Builder Confidence Reverses a 3-Month Decline
The index rose one point to 76 this month – any number over 50 is positive – but the labor shortage and cost/availability of raw materials remain challenging.
Dwindling Supply of Homes May Be Poised for a Turnaround
About 850K homeowners may have their mortgages exit forbearance between Aug.-Oct. this year – a potential for tens of thousands more homes on the market.
More Canadian Snowbirds Plan Their Florida Return
A summer survey found that over 90% of snowbirds expected to return to Fla. this winter – but sentiments have dipped a bit since the COVID delta variant hit.
180M People Could Be Looking for Homes in Coming Years
Experts predict that many more millennials, who already comprise the majority of the home-buying population, will become homebuyers in the coming years.
NAR: 4 Out of 5 Real Estate Firms Operated from 1 Office in 2020
Survey: The majority of those firms also typically had 3 full-time RE licensees. Nearly 9 out of 10 firms, or 86%, were independent and non-franchised.
New Owners Fazed by ‘Hidden’ Costs of Homeownership
Realtor.com: About 44% of homeowners say they didn’t realize other costs, such as home inspection, document fees, property taxes, home insurance and title fees.
Realtor.com: National Rent Growth Hits Double-Digits in Aug.
Aug. report: Rental prices hit double-digit growth for the first time in two years and grew three times faster than in March 2020, prior to the pandemic. Over half of the 50 largest metros reported rents with double-digit gains over last year, including Tampa, Miami and Orlando.
Remote Workers Are Transforming Housing Markets
Since they can live and work anywhere, they’re heading to mid-tier cities nationwide, leading to a surge in home and rental price in these areas.
Bidding Wars Reach Their Lowest Level This Year
Redfin analysis: In Aug., about 59% of offers on homes written by Redfin agents faced competition, a record low for this year and the lowest level since 2020.
Mortgage Rates Dip Lower This Week; 30-year Loan at 2.86%
Freddie Mac: It’s down from 2.88% last week and close to the 2.87% the 30-year FRM was at this time last year. The 15-year FRM now stands at 2.11%.