By Marla Martin Florida Realtors’ data: Single-family home sales rose 18% year-over-year, median sales price up 15.1%; condo sales up 24.6%, median price up 15%. Chief Economist O’Connor: Closed sales in Jan. were “way, way above our historical average,” which is likely for most, if not all, of 2021. ORLANDO, Fla. – Florida’s housing market continued to show momentum in January even with the ongoing pandemic, with more closed sales, rising median prices, more new pending sales and increased pending inventory compared to a year ago, according to Florida Realtors® latest housing data. Single-family existing home sales rose 18% compared to
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By Alex Veiga Home sales rose 23.7% year-to-year in Jan., with the highest month-to-month increase (0.6%) since Oct. and second highest since 2006. Prices were up 14.1% year-to-year. WASHINGTON – Sales of previously occupied U.S. homes rose again last month, a sign that the housing market’s strong momentum from 2020 may be carrying over into this year. Existing U.S. home sales rose 0.6% in January from the previous month to a seasonally adjusted rate of 6.69 million annualized units, the National Association of Realtors® said Friday. Sales jumped 23.7% from a year earlier. It was the strongest sales pace since
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By Matt Ott The 30-year, fixed-rate mortgage averaged 2.81% compared to last week’s 2.73% – but economists still expect rates to hover around 3% for the rest of 2021. SILVER SPRING, Md. (AP) – U.S. long-term mortgage rates ticked up this week but remain at historic lows as the coronavirus pandemic continues to batter the economy even as more Americans get vaccinated. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan rose to 2.81% from last week’s 2.73%. One year ago, the rate was 3.49%. The average rate on 15-year fixed-rate loans,
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By Erica Plemmons Florida Realtors economist: Why should I list now? Show them why graphically based on 1) different home needs, 2) low mortgage rates and 3) equity potential. In 2020, over one-third of Fla. single-family home sellers cashed out and received their list price or more. ORLANDO, Fla. – Realtors® can help show sellers the money (and get their listing)! In 2020, one in three (34%) single-family home sellers received their original list price or higher. From 2015-2019, this was true for about one in four sellers (26%). By month, a more striking trend emerges. In November and December
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A monthly seller-sentiment index recorded a notable spike in the number of homeowners who think it’s a good time to sell – a possible sign of more future listings. WASHINGTON – Fannie Mae’s latest Home Purchase Sentiment Index, based on a survey of 1,000 consumers, suggests that more homeowners view home selling favorably. The index’s component on home-selling conditions month-to-month rose 16 percentage points on net last month. “Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage
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A bill that limits COVID-19-related business liability issues can now go before the full House for a vote once the session begins – a priority issue for Florida Realtors. TALLAHASSEE, Fla. – A high-profile bill that would provide COVID-19 liability protections to businesses moved through its final House committee Tuesday in a 14-7 vote, after heated partisan debate and procedural maneuvering. The issue is one of Florida Realtors’ priority issues heading into the 2021 session of the Florida Legislature that begins on March 2. Before passing the bill (HB 7), the House Judiciary Committee approved three amendments proposed by bill
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By Kerry Smith The study found a gap between Black and white homeownership rates of about 30% (60.8% for whites, 42% for Blacks). Blacks are rejected for mortgages 2.5 times more than whites (10% vs. 4%) and carry higher student loan debt (43% vs. 21% for whites). NAR calls for policy changes. WASHINGTON – The National Association of Realtors® (NAR) released a study on minority homeownership in the United States, finding that it “stubbornly lags behind the national rate, with Black Americans facing some of the toughest hurdles to achieving this essential part of the American Dream.” NAR’s Snapshot of
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By Kerry Smith 4 Fla. counties made the top 25 for increased risk of landlord default, mostly due to an eviction ban that made it harder for some owners to pay the property’s mortgage. IRVINE, Calif. – A RealtyTrac analysis finds that single-family rental property owners face an above-average risk of default in 48% of all U.S. counties, and four Florida counties – Collier, Lee, Polk and Marion – made RealtyTrac’s top 10 list for risk of landlord default. The RealtyTrac Rental Property Risk Report gauges the relative default risk of single-family rental homes, almost 90% of which are owned
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By Marla Martin The state association’s booth at Enterprise Florida’s virtual trade expo on March 16-18 will showcase members’ global expertise. Foreign attendees who want to know more about Florida Realtors and the state can connect with Realtors who speak Arabic, German, Spanish and more. ORLANDO, Fla. – Florida Realtors® will join more than 150 major products and service providers across the Sunshine State in the first-ever virtual Florida International Trade Expo, March 16-18, 2021. Presented by Enterprise Florida, the state’s official economic and trade development agency, the International Trade Expo serves as a virtual meeting place to connect international
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The spring housing market unofficially began over Presidents Day weekend, and NAHB reports that 40% of potential buyers say they’ve been outbid at least once. NEW YORK – The spring housing market season unofficially began last Presidents Day weekend, but experts warn that an uptick in buyers may lead to more frustrated buyers since bidding wars are off the charts even as home prices continue to skyrocket. A new National Association of Home Builders survey found that about 40% of potential home buyers haven’t made purchases because they keep getting outbid. Similar results were recorded by Redfin. In their survey,
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