65% of Buyers Would Make Offer Within 3 Days
Report: 20% of those surveyed said they’d make an offer immediately. Some buyers (56%) are willing to consider a 2nd job to earn more money for a home purchase.
Redfin Settles Suit Alleging Housing Discrimination
Advocates: Housing opportunities will expand in major cities’ communities of color. Redfin said it prefers to spend money advancing fair housing, not litigation.
Not Just California: Hiring Outpaces Homebuilding
Calif., Fla. and other states continue to struggle to keep their homebuilding apace with a growing workforce. This imbalance helps fuel higher home prices.
Insolvent Property Insurer Liquidated
The judge’s order noted further efforts would be “futile.” Tampa-based Lighthouse Property Insurance’s 27K policies in Fla. will be canceled within 30 days.
Florida Ranked No. 1 State for Retirement
Report: The state came in No. 1 for reader feedback, No. 5 for quality of life, No. 8 for affordability and No. 39 for health care.
Where Beach House Rentals Earn the Most Revenue
Seven of the top 10 most profitable areas were in the South, including Fla.’s Navarre Beach, Daytona Beach and Port St. Joe.
Report: Seller Profit Margins Dip Slightly
ATTOM: Though still at historical highs, profit margins on median-priced single-family home sales fell to 47.2% in 1Q 2022; it was 51.6% in 4Q 2021.
U.S. Economy Contracts for 1st Time Since 2020
The nation’s GPD shrank at a seasonally adjusted annual rate of 1.4% in 1Q 2022. But U.S. consumers and businesses – the economy’s core – remain healthy.
Demand Doubles for ARMs
Lower intro rates from adjustable-rate mortgages may entice more buyers now. The increase coincides with a 1.5 percentage point rise in the 30-year fixed rate.
The Home Renovation Boom Continues
Houzz: Renovation activity and spending hit their highest rate since 2018. Homeowners report a 20% increase in the median renovation spend, reaching $18K.