May Consumer Confidence Virtually Unchanged Since April
Americans feel a lot better about their current situation and less excited about the future. However, global consumer confidence indexes soared higher.
More Younger Buyers Appreciating Older Homes
Affordability is important, but for some, an older home is like comfort food during pandemic lockdowns. Plus, more buyers now want a home without a great room.
Affordable Fla. Homes Scarce – But Especially in SW Florida
Florida Realtors economist: Whatever the price point, buyers have fewer options this year than they did last year. But the affordable home supply suffered the most. The amount of single-family homes with a value of $300K or less declined over 60%.
March Home Prices Soar – Highest Increase Since 2013
S&P Case-Shiller: An army of buyers competing for fewer homes pushed prices up 13.3% in March, for the biggest year-to-year home price gain since December 2013.
HUD Offering $145M to Help Homeless Youths
Up to 50 local or rural communities can apply for money through a competitive funding program that’s designed to help youth “change the trajectory of their lives.”
April’s New-Home Sales Flatten – Builders Blame Affordability
Rising home prices, material costs and a labor shortage have taken their toll, builders say, and more potential new-home buyers have been priced out of the market.
Property Coverage Cancelled? Avoid Force-Placed Insurance
When private insurers cancel a policy, homeowners should find replacement coverage ASAP to avoid forced insurance that can cost up to 10 times as much.
U.S. Could Double Tariffs on Canadian Softwood Lumber
A rising cost for lumber has added thousands to the price of a new home, and an ongoing U.S.-Canada dispute could make things worse. Pres. Trump raised tariffs to 20% in 2018 and later lowered them to 9%. The Biden Admin. now proposes an 18.32% tariff.
Small-Town Buyers Having Big-Town Investor Problems
As more urban dwellers moved to small towns with affordable home values, investors moved with them. In many smaller towns, more first-timers are losing bids to cash investors.
Fed: Pandemic Laws Make Credit Scores Less Reliable
Agencies can’t ding credit scores of owners skipping monthly payments via forbearance. As a result, their scores are up 14 points; non-forbearance owners are up only 7.