NEW YORK – Inflation is slowing, and job growth has surged but many Americans still feel the burden of expensive housing – fueled in part by high demand, low inventory and mortgage rates. Home prices across the U.S. rose 5.5% over the past year in December 2023 and they are projected to increase 2.8% year over year by December 2024, according to […]
News & Media CHICAGO – Applications are now open for the National Association of Realtors® 2024 Good Neighbor Awards, which honors Realtors® who make significant impacts in their communities and exemplify dedication to volunteer service. This year marks 25 years for the program. “NAR’s Good Neighbor Awards highlight the remarkable dedication of Realtors to […]
News & Media NEW YORK – As home affordability becomes a concern for many, home builders are answering the call for homes that are more affordable and smaller, with some totaling just 400 square feet. So-called “tiny houses” are popular among retirees and minimalists who are looking to simplify their lives while still owning […]
KEY WEST, Fla. – Office vacancies are at record highs in the U.S. A year-end report from Moody’s Analytics found the national office vacancy rate ended 2023 at a “record-breaking 19.6%.” What’s the culprit? Remote work born from the coronavirus pandemic is fully rooted for many workplaces and expected by many workers for certain […]
WASHINGTON – Homeownership rates for racial minorities increased in 2022, with Asian and Hispanic Americans achieving historic peaks. Despite these advancements, disparities persist among racial and ethnic groups, notably with Black homeownership lagging. People of color continue to endure significant buying challenges throughout and after their home purchases, according to a report released today […]
WASHINGTON – A sharp decline in multifamily starts pushed overall housing starts down in January even as single-family production showed signs of a gradual improvement later this year as interest rates continue to moderate. Overall housing starts decreased 14.8% in January to a seasonally adjusted annual rate of 1.33 million units, according to a […]
SAN FRANCISCO – You feel demoralized about the housing market, right? Hold on. After a grim 2022 and 2023, it looks like 2024 is shaping up to be less hostile to home buyers. Here’s a summary of what’s been rotten in the state of housing: Home prices skyrocketed from the middle of 2020 to […]
News & Media By Marla Martin ORLANDO, Fla.– The National Association of Realtors®’ (NAR) Realtors Relief Foundation announced a $100,000 grant to Florida Realtors® to help Panhandle residents with housing issues resulting from disastrous storm and rain conditions in early January. “The Jan. 9, 2024, severe storms and rainfall damaged so many homes and […]
IRVINE, Calif. – Home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5% return on investment, according to Attom’s Year-End 2023 U.S. Home Sales Report. But even as both gross profits and profit margins remained near record levels, they decreased from 2022, marking the first declines in either category […]
News & Media TALLAHASSEE, Fla. – Even as the home buying market has slowed, over 50% of Americans still browse home sale listings weekly and about 33% look at them daily. While the interest in becoming homeowners is present, real estate professionals must be able to identify the homeowners who are in financial distress […]
News & Media NEW YORK – Regional banks and other lenders have grown concerned about the volatility in commercial real estate, but investors are poised to scoop up distressed properties with cash. Preqin data show that global real estate funds operated by private-equity firms held $544 billion in cash at the end of 2023’s […]
TALLAHASSEE, Fla. – Owners of three farms have signed deals with the state, totaling nearly $9 million, to restrict future residential and commercial development, Agriculture Commissioner Wilton Simpson recently announced. The deals involve the state purchasing conservation easements, which allow landowners to continue using their land for such things as farming while agreeing not […]