Citizens Wants Average 7.2% Rate Hike – Up from Earlier 3.7%
The Fla.-operated insurer wanted a 3.7% increase last month but was pressured to request more to make Citizens less desirable than policies offered by private insurers.
Home Prices Rise at Fastest Pace in More Than 6 Years
S&P CoreLogic Case-Shiller: Buyer demand pushed Nov. prices 9.1% higher year-to-year – the biggest increase since May 2014. For 2020, price increases hit a 14-year high.
COVID-19 Created Unique Mortgage-Approval Obstacles: The Top 3
Debt-to-income ratios became skewed for anyone who temporarily lost a percentage of income, and forbearance programs are giving lenders fits in the loan approval realm.
Census Analysis: In Population Growth, Fla. No. 2 After Texas
An analysis by Pew Charitable Trusts: 16 states’ populations have declined since the Great Recession, but the big winners are Texas (up 374K) and Fla. (up 241K).
Florida Realtors RE Trends: What’s Ahead for Fla. Real Estate?
Chief Economist Brad O’Connor, NAHB Chief Economist Robert Dietz and others will discuss residential outlook, new-home construction trends, more at Feb. 4 virtual event.
New Face of Luxury Homebuyers: Gen X and Millennials
More than $15T will likely be inherited by Gen X and millennials before 2030. Like their parents, these buyers will also expect excellent above-and-beyond service.
What Does Democratic Control Mean for Homeowners and Buyers?
Pres. Biden considered homeownership an important issue during his campaign and has already instituted some changes. Congress will likely focus on housing-related pandemic aid first and, once the disease fades, turn to other issues, such as a proposed $15K new-buyer tax credit.
FHA Evictions Officially Postponed Until March 31
HUD Acting Secretary Matthew Ammon said he acted on Pres. Biden’s request, calling it “a critical first step” to ensure families “will not be forced from their homes.”
Housing Industry Changes Expected During Biden Administration
Predictions can go spectacularly wrong, but a new focus on consumers could bolster lending rules (CFPB) and perhaps turn Fannie and Freddie into a “utility” (FHFA).
NAR: 2020 Existing Home Sales Hit 14-Year High
U.S. buyers keep snatching up homes as soon as they hit the market. Dec. existing home sales rose 0.7%, and 2020 yearly sales were up 5.6% – the most since 2006.