NAR: Existing-Home Sales Dipped 2.5% in August
The inventory of unsold existing homes improved by 0.7% from the previous month to 1.35 million at the end of August, or the equivalent of 4.2 months’ supply.
Fla.’s Aug. Housing: New Listings Up, Prices Ease
New listings, inventory levels up YoY for both single-family homes and condo-townhouses. Single-family median price eased 0.8% YoY, condo-townhouse median down 4.3%.
Hometown Heroes: 2024 Funds Depleted, 6K+ Helped
Less than two months after receiving $100 million from the state Legislature, Floridians have reserved all available Hometown Heroes Housing program funds.
Redfin: Housing Payments Post 4-Year Decline
Monthly housing payments are down nearly $300 from April’s all-time high, but pending sales are still lagging. The Fed rate cut on Wednesday could help.
Fed Makes Aggressive Half Point Cut
The unusually large interest rate cut suggests the economy is rebounding. The cut will continue to impact mortgage rates, which have declined in the past weeks.
Surfside Report Won’t Be Released Until 2026
One investigator in the 2021 Champlain Towers South condo collapse said it is “one of the most complex building failure investigations ever undertaken.”
Rising Builder Sentiment Breaks 4-Month Decline
Builder confidence improved for the first time since May thanks to declining interest rates, but construction costs are holding back some enthusiasm.
Good News for Buyers: Housing Supply Increasing
New listings rose 1.6% month over month in August to the highest seasonally adjusted level in nearly two years and climbed 2.1% from a year earlier.
Single-Family Starts Up in August
The National Association of Home Builders expects new home building will increase in the coming months as construction loan rates decrease.
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