Mortgage Rates Slip a Little, Down to 5.25%
“Economic uncertainty causes rate volatility,” says Freddie Mac’s chief economist. The average 30-year, fixed-rate loan moved down a bit from last week’s 5.3%.
Fla. April Home Median Prices Up, Limited Supply
Florida Realtors: Fla.’s single-family median price up 21.8% to $410K. Condo median price up 24% to $310K. Higher interest rates and tight inventory slow sales.
Latest Fake Online Listing? The ‘Full House’ House
Zillow featured the home used for the TV show “Full House,” only to walk it back and say the property, listed for $37M, wasn’t actually for sale.
Home Affordability Down – But It’s Been Lower
A median-priced home was 79% less affordable historically in 1Q 2022, says Attom. But even in Miami, homes are still 50% more affordable than they were in 2006.
NAR: Fla. Home to the Top 5 Commercial Markets
The Commercial Real Estate Market Conditions Index factors 25 variables on economic conditions, demographics and more. This year, Orlando topped the list.
Tax Foundation: Fla. No. 4 for ‘Business Tax Climate’
Researchers found that the top lower-tax states didn’t have a “major tax,” which helped Fla. move high in rankings since it lacks a personal income tax.
98% of Investors Putting Money in Commercial RE
Survey: Thanks to recent stock market gyrations, investors are moving to real estate. They consider it stable and less likely to lose value until things cool down.
April Housing Starts Steady but Single-Family Drops 7.3%
Housing starts fell just 0.2% in April, but multifamily starts rose 15.3% to offset the single-family drop. NAHB cites “weaker confidence in the single-family market.”
3 Fla. Metros in Top 15 for Mortgage Fraud
Buyers feel pressure to lie on mortgage applications as homes become less affordable, and it’s become more prevalent in South Fla., Orlando and Tampa metros.
Realtor.com Adds New Risk Warning: Wildfires
Listings already include info on a listing’s risk for flooding but going forward, they’ll also have a warning about the potential risk from wildfire damage.