Construction Spending Posts Modest 0.2% Gain in April
The residential component proved strongest with a 1% month-to-month gain and a 29.7% year-to-year gain, while non-residential fell 0.5% by month and 4.8% by year.
Floridians Upbeat About the Present – Bit Less About Future
UF: Consumer confidence in Fla. dropped 1.4 points in May, because a small uptick in current attitudes wasn’t enough to counter a slight downturn in future expectations.
Some Lenders Say They’ll Resume Foreclosures in July
Bank of America says it will resume foreclosures in July, though “the amount … is way down, and most of the clients have become current,” and JP Morgan Chase says 90% of customers have left forbearance. But Wells Fargo plans to wait until 2022 to resume foreclosures.
Can Large Retirement Communities Grow Too Big to Survive?
If a retirement community’s residents don’t work, who does? Big ones, such as The Villages, can’t attract enough working-age adults, and labor costs keep going up.
Is It OK to Ride Out a Hurricane on the 40th floor?
While a homeowner on the 40th floor of a Fla. high-rise has little to fear from storm surge, wind strength increases with elevation. Advised to evacuate? Best to do it.
NAR Partners with LGBTQ+ Real Estate Alliance
The National Association of Realtors says the new partnership will “identify training opportunities … cultivate LGBTQ+ leaders and mobilize members.”
April Pending Home Sales Drop 4.4% Month-to-Month
Year-to-year, however, pending sales skyrocketed 51.7% since April 2020 was the start of nationwide lockdowns to fight a spreading pandemic. NAR Economist Yun says contract signings now are near pre-pandemic levels after the big surge during COVID-19 lockdowns.
Pandemic Buyer Survey: Almost 75% Happy They Did
Despite a cutthroat market with multiple bids and successive failures to secure a home, 71% of successful pandemic-era buyers say their new home meets their needs, 75% say it was a good decision, and 45% wish they moved sooner. Only 19% say they should have waited.
Why the Buyer Frenzy? Fear of Missing Out (FOMO)
What if today’s tight inventory gets even tighter? What if mortgage rates go up? NAR’s chief economist says strict lending laws keep a real estate bubble at bay.
Most Important Part of Email Marketing? Your Subject Line
Not just any subject line will do, according to a recent consumer survey. “Just sold in your area” and “real estate market snapshot” topped the list of winners.