“But the Federal Reserve’s anticipated rate cut later this year should lead to better conditions, with improved affordability and more supply,” says NAR’s chief economist.As mortgage rates climbed above 7% in April, would-be home buyers appear to have pressed pause, revisiting their house-shopping budgets. As a result, pending home sales dropped nearly 8% in April. However, housing experts predict a turnaround could be coming soon.The Nat
Consumers may be distracted by fancy fixtures and finishes during a home tour, overlooking more serious problems, researchers say.Eighty-two percent of home buyers express regrets about their recent property purchase, according to a new survey(link is external) from Clever Real Estate. Their most common regret: buying a home that requires too much maintenance.Twenty-eight percent of home buyers say they were shocked at the cost and time
It’s no secret that housing costs have become increasingly expensive over the past few years, and there’s no sign of a drastic market change anytime soon. Hopeful first-time buyers are arguably experiencing the crunch more than anyone else, with many feeling like their long-held dream of purchasing real estate is simply out of reach. What clients may not realize is that there are numerous financial solutions available that can alleviate some
The University of Michigan’s consumer sentiment index for May was down 10% from a month ago.Consumer sentiment in May fell after three consecutive months of little movement, according to the University of Michigan’s consumer sentiment index.The final reading for May of 69.1 was a slight improvement from two weeks ago when the preliminary estimate saw the index drop 10 points to its lowest level in six months as consumers soured on inflatio
With unprecedented home prices and generationally high mortgage rates, more people are looking for rental options — and not apartments — but single-family homes.You've probably seen some of these communities throughout Central Florida. WESH 2 spoke with developers and renters about why this growing trend is here to stay.“I previously resided in New York and came to Florida for the good weather, more family-oriented environment, fresh air, s
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“Spring home buyers received an unexpected windfall this week,” says Freddie Mac’s chief economist.For the first time in a month, the 30-year fixed-rate mortgage fell back into the 6% range, bringing lower borrowing costs for home buyers who have been waiting for relief. “Spring home buyers received an unexpected windfall this week,” says Sam Khater, Freddie Mac’s chief economist.The decrease in mortgage rates—the 30-year loan avera
Newly built homes available on the market rose to 480K, representing a supply of 9.1 months at the current sales rate, up from an 8.5 month supply in March, according to US Census Bureau data New-home sales fell in April as inventory of existing homes increased modestly and inventory of newly built homes hit their highest level since November 2022, according to data released Thursday by the U.S. Census Bureau.Sales of newly built single family h
Indoor air quality is a hot topic these days. Technology and trends are driving improvement and development.In our modern living and working spaces, the quest for cleaner air has never been more timely. As we continue to seal our buildings tighter for energy efficiency, the importance of maintaining and enhancing indoor air quality (IAQ) escalates. This discussion delves into the latest insights, technological advancements and trends shaping our
Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.Now different drivers are pushing some rents higher — and throwing cold water on others.Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List. Rents cooled because a massive amount of new supply entered the marke
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