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.
Census Bureau: Weakness in multifamily starts pushed overall housing starts down 14.8% in January. Single-family building permits rose 1.6%; multifamily dropped 7.9%.
Farm owners in Polk and Putnam counties have signed deals worth nearly $9M with the Dept. of Agriculture to restrict future residential and commercial development.
Real estate pros should be aware of indications that a client may not be ready to become a homebuyer, such as an unwillingness to seek mortgage preapproval.
Panhandle residents with housing issues caused by the Jan. 9 severe weather are urged to apply for the RRF grant money to help their recovery efforts.
Some data shows that global real estate funds operated by private-equity firms held $544B in cash at the end of 2Q 2023, up from $457B at the end of 2Q 2022.
More inventory potentially hitting the market paired with stabilizing interest rates allows buyers some breathing room, NEFAR president says.
For the most part, mortgage rates have stabilized — and delaying a purchase could end up backfiring as home prices spike.
