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NAR: Summit Economists Expect Good Things in 2021

By Kerry Smith More than 20 economic housing experts at NAR’s Real Estate Forecast Summit discussed a post-pandemic 2021 and, as a group, predicted the economy (GDP) will grow 3.5% (6.2% in 2022), home prices will climb 8% (5.5% in 2022) and mortgage rates will average 3% (3.25% in 2022). WASHINGTON – Expect a post-pandemic […]

Pandemic Didn’t Change Work Model so Much as Accelerate It

Florida Realtors economist: Is the work-from-home trend here to stay, along with its real estate impact on new housing and location demands? A nine-month study suggests that the change was already underway before the pandemic started. It’s simply happening faster now. ORLANDO, Fla. – Preliminary analysis of a nearly nine-month remote-work experiment points to the […]

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 […]