Florida Realtors’ data: May had more closed sales, more new listings and higher median prices (up 27.7% for single-family homes, 24.1% for condos) than a year ago. Pres. Lambert notes one factor behind rising prices is that Fla. “is experiencing a greater share of luxury sales in 2021 compared to a year ago.”
May’s 0.9% drop is the fourth month-to-month decline in a row. Part of the reason? The median price had a record 23.6% year-to-year increase – and 17 days to contract.
A Coconut Grove empty-lot owner tried to pay property taxes, only to be told the lot had been sold – but it was actually stolen by professionals and resold.
Citing new-home supply problems and tight inventory, Fannie’s latest forecast calls for a 4.2% uptick in 2021 home sales – a cut from 6.3% predicted a month ago.
People with student-loan debt should find it easier to buy a home with an FHA loan. The agency updated its calculations to “remove barriers and provide more access.”
NAR is working with a 100-organization group to boost Black homeownership – 3M more by 2030. The coalition’s “3by30 initiative” includes a 7-point plan. NAR VP Bryan Greene says Realtors will keep working to improve federal and local policies that help raise ownership levels.
Focused marketing will likely yield better results, but many agents start with a broad campaign. The latter usually reaches a lot of people but results in fewer leads.
The pandemic boosted consumer demand, but supply chains can’t keep up, causing inflation. But after this temporary condition ends, what’s next? Economists can’t agree.
REIT magazine interviews: Five economists generally agree that commercial real estate is recovering from pandemic shutdowns, though that will vary by sector and geography. Still, there’s a light at the end of the tunnel, and the U.S. will recover faster than the rest of the world.
Airbnb wants to “send a strong message” that helps keep people in homes and won’t accept new short-term rentals if told a tenant was evicted for nonpayment of rent.