More than 20 economic housing experts at NAR’s Real Estate Forecast Summit discussed a post-pandemic 2021 and, as a group, predicted the economy (GDP) will grow 3.5% (6.2% in 2022), home prices will climb 8% (5.5% in 2022) and mortgage rates will average 3% (3.25% in 2022).
Last week, the average 30-year, fixed-rate mortgage hit its 14th record low this year, and it held onto that 2.71% rate. The 15-year loan was also unchanged at 2.26%.
If not for forbearance programs, the market could have seen as many foreclosures as it did during the Great Recession, according to Nationwide Housing’s latest report.
Economists at a real estate editors forum Wed. agreed that prices would keep going up, but predictions varied from 3% (NAR) and 4.1% (CoreLogic) to 5.7% (realtor.com).
Last week, the average 30-year, fixed-rate mortgage hit its 14th record low this year, and it held onto that 2.71% rate. The 15-year loan was also unchanged at 2.26%.
Governing docs for pets may ban pit bulls, but if a person has the needed documentation to show his pit bull is an emotional support animal, he can apply for a lease.
Florida Realtors’ transaction management program has offered 2 versions for more than a year. The legacy program ends Tuesday, but update training remains available.
Florida Realtors economist: NAR research found that homes nationally went under contract in a median of 21 days, and 72% of homes were under contract within 30 days. Fla.’s numbers are similar – but there are notable differences if you drill down into the details.
In some cases, generosity might not be a good idea – but in other cases, it’s fine. How can you thank important business friends during this holiday season?
Early in the pandemic, a switch to virtual real estate class programs was done quickly. It will continue, but rules, details and compliance issues are being worked out.