Florida Home Prices Ease
Home prices in the larger metro areas, including Miami, Jacksonville, Orlando and Tampa, are declining, creating new opportunities for buyers.
U.S. Consumer Sentiment Climbs
Consumer sentiment hits its highest since April. Long-term business conditions have reached their highest optimistic point in almost four years.
Home Prices Benefit Owners, Challenge Buyers
A typical homeowner has accumulated $147,000 in housing wealth over the last five years. Prices remain on solid ground, NAR’s chief economist said.
Who’s Responsible for Landscaper Damage?
If an HOA hires a contractor who then causes damage, the HOA shares the responsibility for addressing those damages. Take clear photos of the damages.
Consumers More Confident on Housing
Despite higher home prices, the share of consumers who think it’s a good to time to buy increased to 20%. Those who think it’s a good time to sell declined to 64%.
Fed Cuts Key Interest Rate a Quarter-Point
The Fed cut its key interest rate by 0.25%, lowering it to 4.6%, as inflation drops near its 2% target. Interest rates impact mortgage rates.
Mortgage Rates Rise for Sixth Straight Week
Average rates on 30-year mortgages ticked up to 6.79% from 6.72% last week. Borrowing costs on 15-year fixed-rate mortgages rose to 6% from 5.99% last week.
Aging-In-Place Tech Making Staying Home Easier
Older adults who want to age in place have new technology that makes it easier, including smart home and medical management systems.
NAR Adds Guides for Buying and Practice Changes
NAR released a new guide for first time buyers and a video series for Realtors related to the practice changes for the proposed settlement.
Multifamily Developer Sentiment Mixed
Demand for apartments remains strong, but high construction costs, financing challenges, land shortages and regulations will slow development in the coming months.