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.
Tools to Run a Real Estate Business on the Cloud
Cloud-based options and software like Dropbox or Microsoft365 offer automatic backup and recovery – files are available even if a device is lost or damaged.
Fair Housing Champion Award Winners Named
NAR recognized 4 winners for making a difference in their businesses and communities as they help expand homeownership to buyers of all backgrounds.
Managing Fla.’s Massive Growth: What’s Next
Fla.’s population may grow by 3.5M residents to reach 26M by 2030. A chamber report predicts 1.6M jobs more will be needed and 3M more cars will be on roads.
U.S. Consumer Confidence Down Slightly in April
Americans were slightly less optimistic about current conditions in April, but their attitudes remain more positive about the short-term outlook.
Long-term U.S. Mortgage Rates Edge Down to 5.1%
After 7 weeks of increases, the average rate on a 30-year mortgage dipped to 5.1%; a year ago, it was 2.98%. Last week, it was 5.11% – highest since April 2010.
NAR: Pending Home Sales Down 1.2% in March
The index has dropped for 5 straight months; it fell 8.2% year-over-year. Chief Economist Yun: It may signal “calmer and normalized market conditions” soon.