Year-to-year pending sales surged 20.2%, but only one region – the South, which includes Fla. – had a month-to-month increase (0.1%). NAR Economist Yun thinks rising prices hurt affordability and deterred some buyers, but the lack of inventory is an ongoing problem.
The unusual atmosphere in Washington might delay a funding extension, which could slow some closings. Most observers don’t expect that – but it’s not a sure thing.
Successful iBuyers need a stable market, reliable automated appraisals and some sellers afraid their home won’t sell quickly – and the current market doesn’t offer those.
Commerce Dept.: Oct. new-home sales changed little from seasonally adjusted Sept. numbers, but they’re still 41.5% higher than they were one year ago.
Businesses plan for the future, but the pandemic presented a challenge: Will it be largely gone by summer? If so, a Harvard University study outlines likely changes, and researchers predict which pandemic changes will fade away – and which will probably stay.
The all-cash $250M deal enables CoStar to market combined commercial and residential products like advertising to brokerages that operate in both real estate sectors.
If fences make good neighbors, there are a lot more good neighbors out there. Lumber costs have gone up, but many buyers want “toppers” to make an existing one higher.
Census Bureau: Fla. has more people struggling with housing costs than any other state. More than half in a survey think eviction or foreclosure is “somewhat likely.”
New home construction is up 8.6% year-to-year, with Jacksonville, Orlando and Tampa three of the top 20 U.S. metro areas for new-home sales.
Small community banks dependent on commercial RE and small biz loans feel added stress from COVID-19; 2 banks failed in Oct., including 1 in Fort Walton Beach.