Insurers’ Downgrades Delayed, Problems Averted
Insurer-rating firm Demotech says it changed direction and won’t lower property insurers’ ratings “until further notice,” easing concerns for homeowners and buyers.
New Home Sales Sink 8.1% in June
Builders say it’s the lowest level since the start of the pandemic (April 2020), with buyers priced out due to high interest rates and ongoing building and development costs.
July Consumer Confidence Down for Third Month
Consumers’ attitudes about their current situation – largely inflation – dragged down July’s numbers more than worries about the future.
NE Fla. Home Prices Dip After Months of Increases
June prices increased less than past months, and in two NE Fla. counties – St. Johns and Nassau – the median home price decreased slightly in June.
S&P CoreLogic: Home Prices Up 20% in May
The 10-city and 20-city index showed a 19.7% year-to-year increase in May, a slight drop. Tampa (up 36%) topped the list for a third month with Miami (34%) at No. 2.
How Do Rich Buyers Choose a Luxury Home?
Most people buy the largest home they can reasonably afford, but upscale buyers have a “sweet spot” for size, future costs and the overall hassle of maintenance.
Monthly Car Payments May Rival Mortgages
Some financial experts worry consumers are overextending as rising interest rates combine with record average prices on luxury cars, rugged SUVs and trucks.
Budget Realistically for Home Repairs
It happens: Stuff at your home wears out or breaks. But saving 1% to 4% of your home’s value each year for maintenance and repairs isn’t easy.
Some Condo Owners Will Face Tough Decisions
Many older condos are fine, but new post-Surfside rules will force some owners to weigh the cost of needed repairs against the benefit of moving and selling.
Fed Likely Raising Interest Rates This Week
On Wed., the Fed ends its meeting and will likely raise rates 3/4’s of a point. Mortgage rates may follow, but lenders anticipating the Fed’s move raised them already.