Commercial Boosted by Supply Chain Expansion
The pandemic uncovered weaknesses in U.S. manufacturing and a dependence on foreign nations, but a push to bring industry back home will help the commercial RE market.
Rate of Rent Increases Slowed for Second Month
Study: Jacksonville’s rents rose only 3.6% year-to-year in July, but they were up 17.8% in three S. Florida counties. Nationally, rents were up 13.5% year-to-year.
Climate, Health Bill Goes Easy on Raising RE Taxes
NAR: The original proposal included tax changes that would have hurt real estate investors. However, the final signed version leaves the industry largely untouched.
New Renting Option: Mobile Home Communities
Rather than buy a mobile home and rent the land, a Zephyrhills developer will rent both for one price – about $1,750 per month for a 3 bed/2 bath home.
Buyers Still Want Yards – Pools Not as Much
The pandemic-created love for outdoor spaces continues, though a survey of home designers found a drop in demand for pools, solar panels and smart home features.
RPR Updating Mobile App on Tuesday
The Realtor app that generates buyer and seller reports was updated. The new version goes live Tues., and members need to update the RPR Mobile app on their devices.
Mortgage Rates Drop a Bit, Down to 5.13%
Rates appear to have hit at least a temporary plateau in the low 5% range. Last week, the 30-year, fixed-rate mortgage averaged 5.22%.
Confidence Dips in Multifamily Sector
NAHB’s multifamily survey found mixed results in the second quarter, as a drop in optimism for condo builds overshadowed an increase in outlooks for apartments.
NAR: U.S. July Home Sales Fell 5.9%
Properties didn’t stay on the market long (14 days), prices climbed 10.8% year-to-year, and inventory is starting to grow in the face of higher mortgage rates.
CFPB: Financial Firms Liable for Data Leaks
Credit scorers, lenders and other financial firms that collect personal data have a duty to keep it safe – and a liability if they don’t – the U.S. consumer bureau says.