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.
Home Building Shifting to Rural and Small Counties
NAHB: 10.5% of all single-family homes built in 4Q 2021 were constructed in rural areas, up from 10% in 4Q 2020; for multifamily units, it was 6% vs 4.1%.
U.S. Inflation Up 8.5% in Past Year
The rise is the fastest pace in more than 40 years; costs for food, gasoline, housing and other items are squeezing consumers and wiping out many pay raises.
Citizens Insurance Adds 25,000 Policies
The state’s insurer of last resort had nearly 818K policies as of March 31, up from 792.6K at the end of Feb., as private insurers drop policies.
‘White Boxing’ May Encourage Home Sales
The opposite of home staging, some turn to “white boxing” to show property, where everything is removed to an empty space of bare floors and white walls.
First-Time Homebuyers Find it Takes More Than Money
Many homebuyers may find the first 48 hours are crucial to either make or break a deal – and often contingencies like taking it “as is” matters, too.
3 Ways Remote Work Is Changing Real Estate
Gallup: 91% of people who now work some hours remotely hope to continue; while a design survey found home buyers seek out bonus rooms and flex spaces.
Luxury Home Buyers Getting Cheaper Loan Rates
Bankrate.com: Last week’s average for a 30-year fixed jumbo mortgage was 4.48% vs 4.95% for a conventional loan. Today, $1M is price of entry in some markets.
Biggest Obstacle to Home Buying? Lack of Affordable Housing
Latest NAR report finds other obstacles vary by race and ethnicity but include saving for a down payment and competing with multiple offers.