Home Prices a Reason to Rent?
It depends on where you want to live, at least according to a new report that analyzed the top 100 U.S. metros. But no Fla. metros were in the top 10 overvalued markets.
Report: America Is Short 5.24M Homes
Realtor.com: The shortfall continues and even increased by 1.4M homes since 2019. New-home construction has hit its slowest pace since 1995 and isn’t much headway.
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.