Relocating Consumers Focus on Pets’ Happiness Too
Many buyers and renters consider a new home with “Will my pets be happy here?” playing in their head – and are willing to compromise their wants for a “yes” answer.
Want a New Home? Builders Start to Turn Buyers Away
D.R. Horton CEO Auld calls it “foreign to us,” but his company is turning away qualified buyers due to construction supply shortages and a thin labor force.
Fla.’s Housing Market Continues Positive Trends Through 2Q
Florida Realtors’ data: Sales, new listings and median prices are up (24.3% for single-family homes, 20.8% for condos) from a year ago. Chief Economist O’Connor: Mortgage rates, while low, are no longer falling, which will gradually reduce competition until price growth falls back to a more normal pace.
NAR: 19 out of 20 Metros Had Double-Digit Price Growth in 2Q
Year-to-year, the median sale price of an existing U.S. home rose 22.9% in the second quarter – to $357,900. Prices were up in 99% of markets and up double-digits in 94%.
Mortgage Rates Move Higher After 6-Week Decline
A 30-year, fixed-rate mortgage averaged 2.87% this week, up from 2.77%. Pandemic fears that pushed rates down were boosted by positive employment numbers this week.
Fla. Property Insurer Liquidates and 33K Lost Coverage
Gulfstream Property & Casualty Insurance went into liquidation on July 28, saddling the state with an estimated $60-$65 million in unpaid claims and premium refunds.
Bidding Wars Cooling: Prepare Now for a Market Shift
Some frustrated and discouraged buyers dropped out of the market, but many may jump back in as inventory grows, properties linger on the market and bidding wars ease.
Gov’t Releasing $5B to Make Communities More Resilient
FEMA’s three “funding opportunities” give money to state and local governments that apply. The “pre-disaster funding” generally goes to disaster mitigation efforts.
Buyer Shock: Identity Theft Discovered in Mortgage Review
The 14.4M Americans suffering from identity theft usually discover it happened when they apply for credit, including first-time buyers trying to secure a mortgage.
FREC Considering Some Additions to Advertising Rules
At the Fla. Real Estate Commission’s July 22 meeting, commissioners discussed some possible changes to 61J-10.025 and plan to follow-up at a meeting on Sept. 22.