Analysis: Hot RE Markets Have Highest Inflation
Inflation affects home prices – and home prices affect inflation. Metros with more departing residents – San Francisco, New York, etc. – have the lowest inflation rates.
Realtors and Technology: What’s Used Most?
Top of the list: smartphones, email, and social media or GPS apps. In addition, 19 out of 20 (94%) agents text customers but also call (92%) or send email (90%).
Real Estate Leads: Optimizing Ads
The “What’s your home worth?” ads carry less weight, in part because they’re overused, but also because today’s consumers balk at giving out their home address.
FEMA’s Mobile App Helps Disaster Recovery
Available in English and Spanish, the app helps people find updated weather alerts, emergency shelters, links to recovery assistance and more within one app.
NAR Study: International Buyers Are Back
In NAR’s annual report, 1 in 4 (24%) international buyers chose Fla. Nationwide, they spent $5.9B, up 8.5%, even as single-family home sales dropped 7.9%.
More Buyers Looking Outside Their Metro Area
1 out of 3 (32.6%) people doing a home search on Redfin’s site looked beyond their metro area, and four of their top 10 preferred destinations are located in Florida.
Few Builders Drop Prices as Mortgage Rates Rise
While some builders lowered prices, it’s tricky. Most want to spur demand without offending their contracted buyers who already agreed to pay a higher price.
Builder Confidence Drops 12 Points in July
The 12% drop is the largest NAHB has recorded in its monthly survey of builder attitudes, except for 42 points in April 2020 – the first full month of the pandemic.
Disagree with a Home’s Flood Map? Contest It
Some homeowners may pay hundreds more for flood insurance than their neighbor, and part of the problem could be a location at the edge of a flood insurance map.
NAHB: Remodeling Still Strong but Index Drops 10 Points
Americans keep upgrading their homes, but NAHB’s index measuring the market dropped 10 points year-to-year in the second quarter, reflecting a market slowdown.