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.
New-Home Sales Fall, Buyers Face ‘Sticker Shock’
New-home sales down 8.6% in March; sales are down nearly 13% from a year ago. Only 14% of March’s new-home sales were below $300K; a year ago, it was 34%.
DeSantis Sets May Session on Property Insurance
Reinsurance, the Office of Insurance Regulation and changes to Fla.’s Building Code to improve insurance affordability are among topics for the May 23-27 session.