Consumer Housing Confidence High – Finances Not So Much
Survey: In Nov. 2020, 71% of renters worried about making their monthly payment. But things are getting better: In Feb. 2021, it dropped to 63%.
Social Media: The 2nd Most Effective Way to Get Clients
Direct referrals from past clients and others is the No. 1 way to get new business, but in a 2020 study, 44% of agents surveyed got at least one client via social media.
Fla.’s Housing Market: More Sales, Higher Median Prices in Feb. 2021
Florida Realtors’ data: Single-family home sales rose 15.7% year-over-year, median sales price up 16.6%; condo sales up 28.7%, median price up 16.6%. Chief Economist O’Connor: Fewer new listings and a tight inventory means a strong seller’s market.
NAR: Feb. Home Sales Down, Prices Way Up
Feb. existing home sales fell 6.6% month-to-month, but they were up 9.1% year-to-year. Median prices, however, rose 15.8% higher when compared to Feb. 2020.
RE Commission Structure: It Serves Public, Says NAR President
In a strong statement, NAR Pres. says the current commission structure “ensures greater equity and equality for first-time, low-income, and many other homebuyers.”
Walking the Walk: Housing Equity in Practice, Not Just Theory
The new national focus on discrimination convinced some businesses to take assertive, tangible steps to boost housing equality, such as creating new company policies.
NAR to Members: Don’t Panic Over PRO Act
A bill passed by the U.S. House could affect Realtors who are independent contractors, but NAR says it’s working with senators to include a Realtor exception in the bill.
Hospitality Industry Expects a ‘Vaxication’ Turnaround
While the pandemic hit the hospitality industry hard, it expects a big rebound if newly vaccinated Americans over-compensate for vacations they lost out on in 2020.
Home Flipping – and Profit Margins – Lower in 2020
The 2020 real estate market wasn’t ideal for home flippers who buy homes, fix them up and resell. ATTOM’s 2020 report found that fewer home flips were funded by fewer mortgages. And while gross profits went higher, profit margins dipped for the third straight year.
Some Fla. Agents See a ‘Mass Migration’ from Calif.
Pandemic relocation numbers aren’t out yet, but agents across Fla. report a higher number of new clients are Californians looking for a less expensive lifestyle.