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Florida Realtors: Economic Update for Housing and the Economy

By Jennifer Quinn What did you miss from Florida Realtors Virtual Convention? Will inventory increase? When will Canadian buyers return? Will Fla. see a rash of foreclosures hit the market? ORLANDO, Fla. – Florida Realtors® Chief Economist Dr. Brad O’Connor provided Realtors with his insight on Florida’s housing and economic future at the recent 2020 Florida Realtors […]

Interest Rates Remain Stable And Home Sales Continue To Increase Despite Low Inventory.

By: Allen Thompson, Broker & Realtor Home sales continue to increase in West Volusia in spite of declining inventory levels. Low mortgage rates remain stable amidst the strong housing market. According to Freddie Mac, for the week ending September 3, 2020, the average 30-year fixed rate mortgage was at 2.93%, up just slightly from 2.91% […]

Fla.’s Housing Market Shows June Upswing Despite COVID-19

By Marla Martin, Florida RealtorsFlorida Realtors’ data: More new pending sales, more pending inventory and higher median sales prices year-over-year in June. Single-family closed sales rose 1.3% – 1st increase since March and a significant change compared to April and May, says Chief Economist O’Connor. ORLANDO, Fla. – Florida’s housing market in June showed positive […]

FSU Study: 15.2% of U.S. Small Businesses Won’t Be Back

By Kerry Smith A survey of small U.S. businesses and nonprofits found that 14.5% closed temporarily and 31% are operating below 40% capacity. But Fla. businesses weren’t hurt as much. TALLAHASSEE, Fla. – A survey of U.S. small businesses by Florida State University (FSU) researchers found that 15.2% of those studied have closed their doors […]

NAR: Watch for Home Sales Rebound as Economy Opens Up

By Catherine Mesick There are still many unknowns about COVID-19, but with that in mind, NAR Chief Economist Lawrence Yun is cautiously optimistic about where the economy is heading, and he also sees positive indicators in the residential real estate market. WASHINGTON – First a caveat: There are still many unknowns about COVID-19 and what […]

Builder Confidence Posts Solid Gain Following Historic Low

By Kerry Smith A monthly NAHB study gauges builders’ attitudes, and after last month’s plunge, their attitudes in May bounced back 7 points to 37 as the pandemic-panic ebbed a bit. WASHINGTON – In a sign that the housing market is stabilizing and gradually moving forward during the COVID-19 pandemic, builder confidence in the newly-built […]

Florida’s Housing Market Shows Median Prices, Sales Up in First Quarter

By Marla Martin, Florida Realtors ear-over-year, Fla. single-family home sales up 10.2%, median price up 6.7%; condo sales up 9.3%, median price up 10.5%. Florida Realtors Chief Economist O’Connor: Expect to see more impact of coronavirus pandemic in 2Q housing data. ORLANDO, Fla. – In the first quarter of 2020, Florida’s housing market reported higher median […]

Study: U.S. Needs 3.3M More Homes to Satisfy Demand

The shortage rises by about 330K homes per year, according to Freddie Mac. Buyer demand remains strong, but years of underbuilding has created a huge deficit, particularly in states with strong economies that attract people from other states. MCLEAN, Va. – Freddie Mac today expanded previous research in a new report, The Major Challenges of Inadequate […]

Study: It’s 16% Cheaper to Buy Now than Late 2018

Home prices are going up; mortgage rates are going down. A study by Black Knight found that the buyer savings from mortgage rate drops more than offsets the rise in home prices by about 16% (about $48,000) in just over a year’s time. JACKSONVILLE, Fla. – Jacksonville-based Black Knight Inc. examined home price growth and […]