New Yorkers and Californians Flock to Florida
Fla. rents are up because demand is up, and new residents boost demand. In 2020, 167 people moved in for every 100 who left. In 2021, the inbound number was 210.
2 of 3 Fla. Homes on Market Less than 30 Days
Florida Realtors economist: In 1Q 2022, half of new Fla. listings went under contract in 12 days – but look beyond that one statistic to see the shift in market speed.
April New-Home Sales Drop Unexpected 16.6%
Pundits expected a slight drop in April new-home sales. NAHB’s chair calls the drop significant and cites the higher cost of new construction and rising interest rates.
Legislature Looks at Property Insurance Reform
The Florida Legislature looks at the state’s property insurance challenges this week. A range of proposals will consider legal, structural and reinsurance updates.
NAR and UI Call for Inclusive Housing Reform
A Friday forum hosted by NAR and the Urban Institute brought together government and reporters to focus on better ways to serve marginalized U.S. communities.
As Mortgage Rates Rise, Brokers Urge Calm
Rates go up and down. One broker expects a slow rise in part to world events, and then a slow fall. And when rates fall, today’s buyers “will go back to refinancing.”
Dubai Developer Buys Surfside Collapse Site
A Dubai billionaire bought the land where a condo collapsed in Surfside for $120M – the only bid submitted and high enough to apparently deter other bidders.
Buyers Got Cold Feet? 6 Objection Handlers
The real estate market can be scary for buyers, but education can help – like saying we don’t want another global collapse even if the last one did lower mortgage rates.
DeSantis Green Lights Hometown Heroes Housing
The $100M program, a top Florida Realtors priority, will provide zero-interest loans to be used toward down payment and closing costs – up to 5% of the loan or $25K.
Fla. Man Found Guilty in Email Closing Scam
In an “email compromise scheme,” a Miami Gardens man monitored business emails, changed wiring instructions at the last minute, and stole almost $400K in closing money.