New-Home Sales Drop 5.9% as Builders Wait for Supplies
May new-home sales dropped to the lowest pace in a year, with prices up 18%. Part of the reason: 20% of builders limited sales activity to manage supply chain problems.
Survey: 7 of 10 Americans Say ‘Affordable Housing’ a Top Concern
Mortgage insurers’ 2021 survey finds 69% say affordable housing is a top concern, and 57% said the low housing supply. This year’s survey also looked specifically at race and found that Black (74%) and Hispanic (65%) respondents included an inability to save for a down payment.
Emotional Intelligence Leads to Higher Sales
Agents with emotional intelligence – an ability to read clients’ emotions – tend to make better connections and collect a higher roster of satisfied client referrals.
Supreme Court: Mortgage Overseer Structure Unconstitutional
The high court ruled that Federal Housing Finance Agency (FHFA) oversight of Fannie Mae and Freddie Mac violates the U.S. Constitution’s separation of powers.
Don’t Need 20% to Get a Mortgage – but Maybe to Buy a Home
In April, half of mortgage homebuyers put down 20%; 25% of all buyers paid with cash. While buyers have low-down mortgage options, it’s not helping much these days.
Condo Q&A: Is One General Vote OK for a Multifaceted Upgrade?
A condo complex’s major renovation includes flooring, paint, furniture and art. Is a single resident vote OK for the entire project, or does each facet require approval?
How to Talk to Luxury Sellers? Don’t Use a Script
Luxury sellers want a human approach. Improvise conversations, and talk about the client 95% of the time and yourself 5% – and be frugal with the 5%.
Fla. Introduces First ‘Freedom Week’ No-Sales-Tax Event
From July 1 to July 7, 2021, Fla. consumers can skip sales taxes on fun-time items, such as entertainment admissions, sporting equipment and camping supplies.
Fla.’s May Housing Market Strong, Shows 2020 COVID-19 Impact
Florida Realtors’ data: May had more closed sales, more new listings and higher median prices (up 27.7% for single-family homes, 24.1% for condos) than a year ago. Pres. Lambert notes one factor behind rising prices is that Fla. “is experiencing a greater share of luxury sales in 2021 compared to a year ago.”
NAR: Existing-Home Sales Down Almost 1% in May
May’s 0.9% drop is the fourth month-to-month decline in a row. Part of the reason? The median price had a record 23.6% year-to-year increase – and 17 days to contract.