Building Materials Rise, But Lumber Prices Ease
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.
Sellers May Need to Consider Price Drops
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.
Demand for Vacation Homes Slowing, Report Says
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.
IRS Part of Condo Sale by Foreign National?
Real estate Q&A: When a foreign national sells property they own in the U.S., a portion of the sale needs to be held back and sent to the IRS by the buyer.
Reassess Buyer Expectations Due to Interest Rates?
26% of people may be less likely to buy a home this year because of rising interest rates, says a survey forecasting the outlook for homeowners in 2022.
Video Ideas to Encourage Business Growth in 2022
Real estate pros can boost business with personalized happy b-day videos or ones that congratulate homeowners on the anniversary of their home sale.
Realtor.com: ‘Close the Gap’ in Homeownership
How? By matching up to $100K to the HCA Equity Down Payment Assistance Fund, helping minorities and low- to moderate-income with down payments and closing costs.
Mortgage Rates Rise, 30-year Loan Reaches 5%
Freddie Mac: That’s up from 4.72% last week; it’s the first time the 30-year FRM has hit 5% in over 10 years amid persistent high inflation.
Inflation Edges Higher, Affecting Housing
NAR Chief Economist: The Fed Reserve will be forced to raise interest rates multiple times, pushing mortgage rates up and slowing home sales, price increases.
Don’t Force a Commute as Gas Prices Soar
Gas prices recently reached a 14-year high, and most workers don’t want to return to commutes to the office full time. Employers have options to explore.