WASHINGTON – More residential construction is occurring in low density suburbs and outlying areas because of several factors that affect housing affordability, including the continued lack of buildable lots, higher home building costs and an ongoing shortage of construction workers. These are among the key findings from the National Association of Home Builders (NAHB) […]
NEW YORK – Single-family home renters have become a powerful force in the residential market, significantly shaping the post-pandemic landscape. Unlike apartment dwellers, house renters prioritize features typically associated with homeownership — privacy, space, a yard. However, a recent Point2 survey revealed that pet accommodations are now a bigger priority than making room for […]
WASHINGTON — A family earning the nation’s median income of $97,800 needed 38% of its income to cover the mortgage payment on a median-priced new home, the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI) found. Similarly in the third quarter of 2024, low-income families, defined as those earning only […]
WASHINGTON — A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view. Speaking at George Washington University, Christopher Waller, a key member of the Fed’s […]
News & Media JACKSONVILLE, Fla. – Private sea walls, which can cost $150,000 or more to install, are becoming increasingly popular to protect million-dollar waterfront homes amid the threat of erosion and storm damage. Sea wall costs are dependent on the width, length and materials used. A wood-framed sea wall filled with soil can […]
News & Media SEATTLE – Just over one in five (22%) U.S. renters say all of their regular income goes directly to paying their rent, according to a new survey from the real estate brokerage Redfin. Working a second job is also a fairly common way for renters to pay housing costs, with 20% […]
SEATTLE – Mortgage rates are once again in the spotlight as 2025 approaches. Zillow predicts a more active housing market and more buyers gaining the upper hand in 2025, but those hoping to buy — or even refinance — should buckle up for a bumpy ride and stay ready to move when conditions are […]
News & Media WASHINGTON – U.S. home prices rose 4.3% between the third quarter of 2023 and the third quarter of 2024, according to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI). House prices were up 0.7% compared to the second quarter of 2024. FHFA’s seasonally adjusted monthly index for September […]
MIAMI – The Gulf of Mexico invaded thousands of homes on Florida’s west coast this year, and many will have to be gutted and rebuilt higher — some a full story off the ground. The process makes communities safer the next time a storm comes aground, but it’s expensive and painful for the people […]
NEW YORK – The holidays bring happy times — but also financial burdens. And more than ever this past season. While inflation is easing, prices for just about everything are still considerably higher than they were pre-pandemic. In fact, Bankrate’s 2024 Holiday Shopping Survey found that 28% of holiday shoppers say they are stressed […]
TALLAHASSEE, Fla. — Predicted to be hyperactive, the 2024 Atlantic hurricane season delivered a mighty punch to storm-weary Floridians. The hurricane season, which began June 1, produced 18 named storms, including 11 turbocharged hurricanes. Despite some calm spells, both the number of storms and the number of hurricanes clocked in at four above the […]
WASHINGTON — With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. Even if inflation continued declining to the Fed’s 2% target, officials said, “it would likely be appropriate to move gradually” in lowering rates, according to minutes […]