NAR: Jan. Existing Home Sales Surge 6.7%
Pressured by a fear of rising interest rates, investors and families rushed to buy homes in Jan. as listings remained tight and prices rose 15.4% year-to-year.
Realtors May Not Be Using All The iPhone Tools
Problem with a home? Take a photo, circle it and send. iPhones also have built-in levels – and Facetime can make it look as if you constantly hold eye contact.
New Minimum Heights Considered by Miami-Dade
In response to climate change and rising seas, Miami-Dade County may double buildings’ minimum elevation requirements, increasing the cost of new housing.
Researchers: Home Market ‘Close to Peak’
Home prices, inflation and rising interest rates will soon create a balance in the housing market, say FAU researchers, though prices will remain high.
Proposed Amendment Would Help Hometown Heroes
Florida Realtors will back a proposed state constitutional amendment that gives front-line workers, such as police and teachers, a property tax break.
Hot Real Estate Market Impacted ‘Opportunity Zones’
Fla. has over 400 Opportunity Zones to create affordable housing and encourage development, but rising prices and demand have dampened their impact.
Tool Can Shorten Loan Processing by 15 Days?
Freddie Mac has a new “automated method” to analyze incomes based on direct deposits. Up to 93% of borrowers could see a quicker loan-process timeline.
Average Mortgage Rate Increases Again, Hits 3.92%
It’s been almost two years since a 30-year, fixed-rate mortgage averaged 3.92% (May 2019 at 3.99%). One year ago, the 30-year FRM averaged 2.81%.
Fla. to Distribute $676M in Homeowner Mortgage Aid
On Feb. 9, the U.S. Treasury OK’d Fla.’s plan to distribute federal money to help homeowners, though the state has not yet released its distribution plan.
Jan.: Housing Starts Down, Building Permits Up
While the number of housing starts declined 4.1% compared to Dec., the number of building permits – indicators of future housing-start numbers – rose 0.7%.