Florida Realtors: Fla.’s single-family median price up 3.8% ($405K), condo median up 3.2% ($320K). New listings and inventory levels up in both property categories.
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The money paradox for real estate firms occurs when money must be spent in order to make money, even when cash flow is inconsistent or seasonal.
Total existing sales slipped 1.7% year-over-year. Chief Economist Yun: Jan.’s “monthly gain is the start of more supply and demand.” Listings were modestly higher.
Meeting the ongoing need for affordable options, a new 51-acre military housing development is in the works near the U.S. Southern Command HQ in S. Fla.
In a tight home sale market, real estate pros may want to develop relationships with a network of renters, who might become homebuyers in the future.
As home affordability continues to challenge buyers, builders are now testing the market for smaller, more affordable starter homes – some just 400 square feet.
NAR: Despite gains, racial minorities still faced disparities. Black homeownership lagged at 44.1%; rates for Asian (66.3%) and Hispanic Americans (51.1%) were records.
For 25 years now, NAR has honored Realtors who strengthen their communities through their volunteer service. Five winners receive $10K grants for their cause.
