Florida Realtors: Fla.’s single-family median price up 2% ($410K), condo median up 3.9% (over $321K). Pending sales and new listings rose in both property categories.
Nearly 6,000 policies were added last week. But that number could drop as 7 insurers were approved to assume as many as 202K policies from Citizens this week.
The BOD supports a tax policy proposal for a temporary tax credit for long-time owners of single-family homes to encourage them to sell their home to an owner-occupant.
Last week’s approval ended the threat of a government shutdown until after the holidays and pushed a fight over the federal budget into January 2024.
At an NAR panel last week, industry experts said that when multiple generations live together, it can help address affordability concerns and homeownership gaps.
Overall housing starts rose 1.9% to a seasonally adjusted rate of 1.37M units. NAHB chair: A lack of for-sale existing homes supported new construction demand.
Freddie Mac Chief Economist: “New data indicate inflationary pressures are receding” – which, along with lower mortgage rates, may lure more homebuyers into the market.
NAR Chief Economist Yun: Except for office space, commercial property rates are expected to stabilize, though higher interest rates are impacting commercial loans.
NAR attorneys: Real estate professionals should maintain clear communication with clients about the services they provide and how they get paid.
These investors often rely on data- and technology-driven tools to find neighborhoods where buying in bulk is likely to pay off, then typically make cash offers.
