TALLAHASSEE, Fla. – Senate President Kathleen Passidomo on Friday ruled out a special legislative session to address problems facing condominium associations and owners, including soaring costs. In a memorandum to senators, Passidomo said condominium laws can be addressed during committee meetings after the November elections and during the 2025 regular session. She pointed to […]
News & Media By Mitchell Hartman NEW YORK – With inflation continuing to track toward the Federal Reserve’s 2% target and the job market slowing, there’s a wide consensus among economists and investors that the Fed will begin cutting interest rates at their meeting in mid-September. Analysts anticipate rate cuts again in November and […]
SEATTLE – Competition for homes and price appreciation tapered off faster than normal in July as high housing costs continued to stymie shoppers, according to the Zillow market report. But recent drops in mortgage rates should spur more competition as we head into fall. “If this relief from mortgage rates continues, we should see […]
WASHINGTON – Overall housing starts decreased 6.8% in July thanks, in part, to high interest rates for construction and development loans, labor shortages and higher prices for building materials, the National Association of Home Builders said. Starts decreased to a seasonally adjusted annual rate of 1.24 million units, according to a report from the […]
TALLAHASSEE, Fla. – State economists on Wednesday increased general-revenue projections by a total of about $2 billion for the current fiscal year and next year, giving a boost to lawmakers as they start preparing to draw up a budget during the 2025 legislative session. A panel of economists known as the Revenue Estimating Conference […]
TALLAHASSEE, Fla. – Florida saw increased tourism during the second quarter of 2024, while it continues trying to get the international market back to pre-pandemic levels. With the totals driven by tourists from other parts of the U.S., Visit Florida on Thursday estimated the state had 34.2 million visitors during the April-through-June period, 1.64% […]
News & Media CHICAGO – By now, you’ve experienced changes to the way you do business as a result of the NAR settlement in the Sitzer-Burnett lawsuit. Changes went into effect on Saturday, Aug. 17. Specifically: Offers of compensation are prohibited on Multiple Listing Services (MLSs). Offers of compensation will continue to be an […]
News & Media ORLANDO, Fla. – Since the NAR settlement in the Sitzer-Burnett case was announced in last February, Florida Realtors® has released webinars, news articles, infographics, videos, social media posts and more to help you comply with policy changes taking effect tomorrow, Aug. 17. These resources have been compiled into a resource guide […]
News & Media By Alex Veiga LOS ANGELES – The average rate on a 30-year mortgage edged higher this week, holding close to its lowest level in more than a year. The rate rose to 6.49% from 6.47% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.09%. Borrowing […]
THE VILLAGES, Fla. — As one of the world’s largest retirement communities, The Villages in central Florida is known for its endless golf courses, having the oldest median age in the United States and its traffic-stopping golf-cart parades usually supporting a Republican candidate during campaign season. What it’s not known for is kids. Yet […]
WASHINGTON – Builder confidence in the market for newly built single-family homes ticked down two points to 39 in August from a downwardly revised reading of 41 in July, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. This is the lowest reading since December 2023. “Challenging […]
SEATTLE – Investor purchases of U.S. homes rose 3.4% year over year in the second quarter – the largest increase since the second quarter of 2022, according to the real estate brokerage Redfin. Investors purchased $43 billion worth of homes in the second quarter, up 13.7% from a year earlier – also the biggest […]
