Flood Insurance Alert: Need to Know Info on Oct. 1 Changes
NFIP’s Risk Rating 2.0 becomes effective on Oct. 1. Register for Florida Realtors webinar (Tue., Sept. 28) to learn the changes and best practices.
Florida Realtors Named One of Central Fla.’s Top Workplaces
Energage sends workplace culture surveys to companies on behalf of the Orlando Sentinel, and the state Realtor association was named one of the area’s best places to work.
Fla.’s Housing Market: Median Prices, New Listings Up in August
Florida Realtors’ data: More new listings and higher median prices – up 18% for single-family homes to $354,000; up 16.1% to $252,500 for condos – than a year ago. Single-family home sales rose just 0.2%, but condo sales were up 13.1%. Chief Economist O’Connor: Condo-townhouse market “remains the hotter market for now.”
NAR: August Existing Home Sales Drop 2.0%
The decline follows two months of increases. NAR’s chief economist says buyer demand remains strong, but higher prices have pushed many to wait for more inventory.
NAR Realtor Relief Fund Telethon Raises $350K
Realtors raised almost $350K in three hours in support of disaster victims. The virtual event, part of the “Hope Rising” campaign, celebrated RRF’s 20th anniversary.
New Flood Rates Debut Oct. 1 Unless Congress Acts
The Biden administration doesn’t plan to stop FEMA’s “Risk Rating 2.0” from going into effect, leaving Congressional leaders to decide. NAR backs the new structure that charges by individual home rather than flood zone, but it’s facing opposition from other real estate groups.
Foreign Buyers May Return in Nov. as U.S. Eases Restrictions
Travelers must be fully vaccinated and have a recent negative COVID-19 test if flying to the U.S., but the change could allow more buyers to physically tour homes.
Fed Likely to Signal a Pullback in Economic Support
The Federal Reserve used its tools to tamp down interest rates in order to help a pandemic-harmed economy – but they’re expected to ease that support later this year.
Aug. Home Construction Up 3.9% After July Drop
A better-than-expected rebound came largely from the apartment-construction segment that rose 21.6% compared to a 2.8% decline in single-family-home starts.
Inflation Forces Builders to Take It Slow, Raise Prices
How much will lumber cost in six months? When builders don’t know how much supplies will cost upon arrival, they grow skittish about quoting prices and gauging demand.