Demand for Second Homes Up 100% Year-to-Year
The number of people who locked-in mortgage rates for second homes – in spite of a pandemic-caused economic dip – suggests a K-shaped recovery.
NAR Reaches Agreement with DOJ on MLS and Commission Rules
The Dept. of Justice-NAR agreement isn’t finalized, but NAR says it will institute changes, such as making info on buyers’ agents’ compensation publicly available in the MLS and creating a definitive rule that buyers’ agents can’t represent their services as free.
Some Fla. Owners Will See Big Property Insurance Increases
State regulators approved about 100 rate-hike requests in 2020, with at least two close to 30%. But those are averages – a specific owner’s rate hike might be higher.
NAR President Apologizes for Past Racial Inequality Policies
The new president issued a formal apology, calling earlier policies “an outrage to our morals and our ideals. It was a betrayal of our commitment to fairness and equality.”
Expansion of 5G Will Reshape Communities and Real Estate
5G – the next generation of internet connecting – will change the way we collect data, drive cars, pay for devices, buy homes and make real estate marketing decisions.
Report Predicts 2021 Affordability Crisis for Renters
Harvard housing report found that the pandemic hit low-income renters hard. Of those who earn $25K or less, more than half lost wages after the pandemic hit.
NAR How-To Buyer Videos Show Realtors’ Involvement
An 8-episode first-time homebuyer series on YouTube focuses on the problems that can occur during a transaction – and the Realtors who solve those problems.
Mortgage Rates Fall to New Lows – 30-Year Loan at 2.72%
Last week, a stock market surge pushed rates a bit higher. This week, the average 30-year, fixed-rate mortgage fell once again to 2.72%, its 13th record low this year.
Fla.’s Housing Market: Sales, Median Prices, New Listings Up in Oct.
Florida Realtors’ data: Single-family home sales up 26.9% year-over-year, median sales price up 15.6%; condo sales up 30.3%, median price up 15.9%. Chief Economist O’Connor: Strong and persistent demand, coupled with worsening inventory shortages, continued to drive up home values.
Fla. Lawmakers Consider Climate Change Plans
Fla. House and Senate leaders say the state needs to address the impact of rising seas on the state’s coastal communities and suggested forming work programs.