Report: Stalled New-Home Projects Jump 47%
Supply-chain delays and labor shortages slowed new-home builds. In the South, a recent study found a 52% increase in delays before construction starts.
Fannie Mae Predicts ‘Moderate Recession’
New 2023 forecast: Expect a modest economic contraction in 2023’s second half, but the housing market should help cushion that even if its pace slows a bit.
Your Sphere: Key Approach to Earn Business
Agents face challenges, but focusing on their sphere regardless of market conditions can boost business. Make personal calls and send cards to stay in touch.
Builders Bypass Individual Buyer for Big Investors
Study: Over 25% of houses bought by professional rental investors in 4Q 2021 were new-construction properties. In 3Q 2019, they bought 3% of newly built homes.
Single Women’s Buying Power Is Shrinking
PropertyShark study: Women can afford to buy alone in only 17 of the 51 largest cities in the U.S. – and one of those cities is Jacksonville.
Foreclosure Activity: New High Since Start of COVID
Filings up 39% in 1Q 2022 over 1Q 2021. Fla. is one of 5 states with highest foreclosure starts in 1Q. But activity still remains below historical levels.
Owners Leery of Giving Up Low Mortgage Rates?
This “lock-in effect” may impact listings moving forward. Higher rates have added about $400 to the average monthly payment on a median-priced home.
Homeowners Reluctant to Give Up Low Mortgage Rates?
This “lock-in effect” may impact listings moving forward. Higher rates have added about $400 to the average monthly payment on a median-priced home.
Tech Helpline Expands to 725K in U.S., Canada
Florida Realtors technical support service added 4 Realtor groups with nearly 12K new users. In 2021, the Helpline provided tech support for over 113K cases.
Higher Mortgage Rates Set Stage for Sales Slowdown
This week’s 30-year mortgage rate averaged 5.11%. Owners with locked-in lower rates have less financial incentive to sell; would-be buyers face higher loan costs.