Wildfires May Reheat Lumber Prices
Lumber prices had been cooling in recent weeks. However, lumber producers warn price hikes likely are on the horizon if the Western wildfires aren’t contained.
NAR Announces 2022 Leadership Academy Class
Two of the 20 Realtors chosen for the 10-month program that begins in Jan. 2022 are from Florida: Carlos Alleyne, Boca Raton, and Ines Hegedus-Garcia, Miami Shores.
Study: Showings Plummet After First 5 Days on Market
ShowingTime: Those 5 days are “hyperactive with double-digit showings and offers submitted quickly”– 64 markets averaged double-digit showings per listing during June.
NAR: ‘Independent Contractor’ Bill Should Exempt Realtors
NAR says it faces “steep resistance” but will keep advocating for a Realtor exemption to proposals: “Congress must recognize real estate’s unique place in the economy.”
HUD Offers $19M to Fight Housing Discrimination
Private fair housing groups may request money and use it to blind test housing groups, respond to complaints or propose new projects related to COVID-19 challenges.
Ransomware Attack May Jeopardize Some Closings
Cloudstar, a cloud service used by many title companies, shut down after a ransomware attack last week. As a result, some brokers now can’t register transactions or closings. “We are still very much in the containment and remediation phase,” the company says.
NAR: June Existing-Home Sales Rose 1.4%
Year-to-year home prices rose 23.4%, the second-highest on record. However, a 3.3% inventory uptick may start to slow price increases and give homebuyers more hope.
Mortgage Rates Fall for Fourth Week, Hitting 2.78%
Pandemic numbers are rising again. That’s shaken investors and pushed 30-year mortgage rates lower again this week, though adjustable rates moved a little higher.
Fla. Home to 7 Out of 10 Top All-Cash Sales Metros
Nationally, cash buyers made up about 1/3 of all 2021 home sales so far, but that percentage rises to 52.6% in West Palm Beach – the top metro for cash sales in the U.S.
‘Short Commute Time’ No Longer Helps Home Values
The pandemic changed things: Home values for properties with long commute times are rising faster than units in or near metro areas.