News & Media By Marla Martin MCLEAN, Va. – The 30-year fixed-rate mortgage (FRM) averaged 6.90%, this week, up from last week’s average of 6.77%, according to Freddie Mac. “Strong incoming economic and inflation data has caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates,” said Sam Khater, […]
ORLANDO, Fla. – Florida’s housing market started 2024 with higher median prices, more new listings, more inventory (active listings) and median prices in January compared to a year ago, according to Florida Realtors®’ latest housing data. However, mortgage interest rates above 6% continued to impact potential homebuyers’ purchase power, while also contributing to a […]
News & Media CHICAGO – With tight home sale markets, real estate professionals may want to consider tapping the rental market for business. The National Association of Realtors (NAR) reports that the rental market has seen more multifamily construction and stabilizing rent increases, which could help professionals get in front of renters and meet […]
News & Media DORAL, Fla. – Engineers are working on new 51-acre development for military housing near the U.S. Southern Command (SOUTHCOM) headquarters in Doral, Florida. The project includes 139 units of duplexes, townhouses, single-family homes, and apartments for accompanied and unaccompanied service members. Part of the 1990s Department of Defense’s Military Housing Privatization […]
NEW YORK – Eric Jesse, a partner with Lowenstein Sandler’s Insurance Recovery Group, discussed the current state of the property insurance market. He offered tips on how companies can make their commercial properties a more attractive risk to insurers. Eric Jesse: Commercial property insurance is a core coverage for businesses. It protects your business’ […]
IRVINE, Calif. – For Ivan Estrada, ChatGPT is like “your smartest best friend.” The Beverly Hills real estate agent uses it daily to research and write emails, blog posts, newsletters and listing descriptions in a fraction of the time it normally takes. “Whatever we get back is like 90% complete,” Estrada said of the artificial intelligence tool. […]
CHICAGO – A majority of taxpayers feel they pay too much in taxes, with many saying that they receive a poor value in return, according to a new poll from the University of Chicago Harris School of Public Policy and The Associated Press-NORC Center for Public Affairs Research. Two-thirds of U.S. taxpayers say they spend “too much” on federal […]
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 […]