Case-Shiller: Home Prices Up 20.4% in April
Prices remained up 20% year-to-year in April, but the monthly rate of increase appears to be slowing as the Fed’s interest rate hikes seem to be having an impact.
Prices remained up 20% year-to-year in April, but the monthly rate of increase appears to be slowing as the Fed’s interest rate hikes seem to be having an impact.
A look at the latest trends across the U.S. show that residents in 32 states, including Florida, favor a modern style at home. Ranked at No. 2 is farmhouse chic.
Monthly mortgage payments in April took up 28% of a recent homebuyer’s monthly income, near the 30% threshold generally considered as “affordable,” says Zillow.
Fla.’s “insurer of last resort” sought a 10.7% rate increase for homeowners with “multi-peril” policies, its most common; but the state approved an average 6.4% rise.
Millions of Americans who rely on their cars for work are changing their habits, signing up for carpools or riding bicycles to work as high gas prices strain budgets.
High-demand buyers keep moving to Fla., seeking luxury homes with specific features, leaving RE pros to find and persuade homeowners to sell their properties.
TransUnion: Rents are rising faster than tenants’ income. U.S. apartment rents rose 14% from 2020 to 2021 but the median income of rental applicants is up 6%.
Litigation adds to Fla.’s rising prices for property ins. Citizens Ins. – the Fla.-owned “insurer of last resort” – says it’s served with 970 lawsuits each month.
Due to the Surfside tragedy, a new business model is emerging: Condo safety reports using the same type of system as Carfax reports for used-car buyers.
More sellers want to stay in their home after closing, sometimes for weeks or months, and agreeing to their request gives some buyers an edge over the competition.