Gov. DeSantis Calling Insurance Special Session
Dates have yet to be set for the special session, which will have as its “main focus the reform of the property insurance market,” the governor said.
Dates have yet to be set for the special session, which will have as its “main focus the reform of the property insurance market,” the governor said.
Survey: 65% worry about inflation, 63% rising interest rates and 58% access to capital concerns. Still, investors continue moving forward on projects.
Florida Supreme Court has approved a Florida Bar rule change that alters the Nonlawyer disclosure; this impacts 8 landlord-tenant forms found in Form Simplicity.
For-sale inventory is low, the imbalance of supply and demand is pushing up home prices, “home appraisal gaps” are common and mortgage rates are rising.
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MBA: Overall mortgage originations will fall 35.5% from 2021 to $2.58T this year but higher home prices will help fuel a smaller 4% annual growth in volume.
NAHB: Remodeling trends tend to remove the tub and supersize the shower, but 42% of first-time buyers want a shower-tub combo; 30% say it’s essential.
NAHB: Prices of goods used in residential construction are up 8% since 2022 began and up 20.4% year-over-year; but lumber prices are down over 6% to lowest of year.
Higher mortgage rates may soften demand this spring. NAR has forecast home sales to slip 10% in 2022, mostly due to rising rates pricing out would-be buyers.
Redfin: While demand for vacation homes dropped sharply for a 2nd consecutive month in March, such sales are still 13% higher than pre-pandemic levels.