Sales rose in Jan. 2022 and then fell for the next 11 months. Based in large part on rising mortgage rates, 2022 U.S. home sales were down 17.8% year-to-year.
Florida Realtors data: But for-sale inventory rose and median sales prices up year-over-year. Single-family homes up 15.7% to $402,500; condos up 21.6% to $306,500.
FHFA, the oversight agency for Fannie Mac and Freddie Mac, announced a continuing loan structure that generally favors first-time and lower-income buyers.
Florida Realtors chief economist: Expect Fla. housing to return to a more “traditional” market like in 2018-2019 “as supply and demand become more balanced.”
The firms says decarbonizing the global real estate market will cost about $18T, but the industry could reduce annual carbon emissions by 75% (6.2 gigatons).
Dec. single-family starts rose double digits to 11.3% as multifamily slid 19%. Based on permits issued, however, NAHB expects less dramatic numbers in the future.
Agents who nurtured customers have an edge as real estate slows down, while those constantly seeking brand-new clients are in for a rougher time.
Two vacation-home goals – “I want to give it my unique touch” and “I want to rent it out” – can be incompatible. Avoid stress by treating it like a business.
This year’s goals should be “Specific, Measurable, Achievable, Realistic and Timely.” Praise team members, stay calm and use morning hours to focus on top goals.
Good news 3: An average weekly mortgage rate of, say, 5.8% could draw lots of buyers back into the market, and NAR’s chief economist thinks that could happen.
