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.
Small Town Fined $5M Over Group Home Issue
A judge ruled that a “Fair Housing Center” home for six individuals faced discrimination, and ordered the town of Cromwell, Connecticut, to pay $5M.
Brokerages: Getting Attention for the Wrong Reasons?
Agents need to tell customers about the benefits their brokerage brings to the table, but even some brokers don’t recognize their own strengths.
Housing Shortage Isn’t Just a Coastal Crisis
The U.S. needs about 3.8 million housing units to keep up with household growth, a crisis with multiple causes, some of which go back to the Great Recession.
Large Fla. Property Insurer Weighing ‘Options’
The parent firm of United Property & Casualty, which insures 185K Fla. homeowners, is reviewing “strategic and capital raising alternatives” that may include a sale.
Hurricane Mitigation Efforts Worth More than You Think
Stronger construction can minimize damage from strong winds, but an MIT study found that many valuations underestimate mitigation’s benefits by as much as 80%.
More Sellers Drop Price as Market Cools
In No. 1 Boise, Idaho, 2 out of 3 sellers (61.5%) dropped their asking price in June. In No. 9 Tampa, a Redfin study found 44.5% of sellers lowered their price.