A national survey showed 39% of consumers plan to move, and Florida is among the top destinations. About 13% prefer ranch-style homes.
The April NAHB/Wells Fargo HMI survey showed that 22% of builders cut home prices in April, down from 24% in March and 36% in December 2023.
Potential flippers should understand the process of home flipping before jumping in. Some of the common unknowns include the tax benefits.
Today’s average rate on a 30-year home loan is just under 7%, not far from the historical average. Still, some homebuyers say they’re waiting for rates to drop.
Many new homeowners don’t realize the monthly payments on fixed-rate mortgages can go up and down depending on PITI – principal, interest, taxes and insurance.
Clint Strauch, president of Florida Peninsula Insurance, says the 2% average rate decrease shows the property insurance market is stabilizing.
Read a special digital supplement of Realtor Magazine with important content that dispels misinformation and myths about the proposed settlement.
