NAR: Oct. Sales Up 0.8% – but Down 13.1% Year-to-Year
Despite rising mortgage rates and a tight listing inventory (down 12% year-to-year), determined Americans kept purchasing homes in Oct.
Fla. Market: Median Prices Up, Amid Low Oct. Inventory
Florida Realtors’ data: Demand, low inventory impact prices. Single-family home median sale price up 17.7% to $358,950, condo median price up 17.6% to $260,000.
Fed will Maintain Current Policies Under Current Chair
Buyers keep an eye on mortgage rates, but there should be fewer surprises after Pres. Biden said he’ll rename Jerome Powell as chair for another four years.
What Will Infrastructure Bill Do for Fla.’s Realtors?
The new law is controversial, but one element – a big investment in broadband for rural areas – could open up areas of Fla. to buyers who no longer commute to work.
New Bidding Wars Expected as International Buyers Return
Inventory remains tight, but it could get tighter if more buyers arrive. Some S. Fla. agents say they’re already getting calls from returning international buyers.
How Can Buyers with VA Loans Compete?
A VA loan is attractive if you’re active or retired military, but sellers sometimes think conventional loans present fewer problems. A larger deposit might help.
How Did Housing Policy Hurt Black Americans? NAR Explains
Two experts clarified historic discrimination at NAR’s convention, saying homeownership helps “launch the next generation,” and many young Black adults lost that edge.
RE Q&A: Can HOA Enforce Smoking Ban in Common Areas?
While indoor smoking is generally banned, some condo associations have started nixing it in outdoor spaces – but it likely requires a majority vote of unit owners.
Office Market: Owners Deferring to Employees on Return Plans
Office managers aren’t sure about future space needs because they aren’t sure how many workers will return. In a tight labor market, many are letting employees decide.
Little Change in 30-Year Loan Rates – But Above 3% Again
At 3.1%, this week’s average 30-year-mortgage rate is barely higher than last week’s 2.98%, but any rise above a whole number can have a psychological impact on buyers.