Americans are showing growing fears over a potential recession: The Consumer Confidence Index fell 4.2 points from Jan., marking the 1st drop in three months. NEW YORK – American consumers are feeling less confident this month as concerns over a possible recession grew. When Will Housing Affordability Improve? It’s going to take time, experts say: Expected interest rate cuts will have some impact on housing prices and mortgage rates, but more housing stock is needed. Learn More ► The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 106.7 from a revised 110.9 in
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Attom: 46.1% of mortgaged residential properties were equity-rich in 4Q. Miami was among the biggest metros with the most equity-rich mortgaged properties (61.8%). IRVINE, Calif. – Attom has released its fourth-quarter 2023 U.S. Home Equity & Underwater Report, which shows that 46.1% of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values. Is It Time to Refinance Your Mortgage? The modest drops in rates may make refinancing more attractive to some homeowners, but others
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KB Homes CEO: New home orders rose in the first weeks of 1Q 2024 as mortgage rates eased off late-Oct. highs – a positive sign for a strong spring for the industry. LOS ANGELES (AP) – Rising mortgage rates through much of 2023 kept many prospective homebuyers and sellers on the sidelines and the housing market in a deep slump. Homebuilders responded by lowering prices and offering incentives like mortgage rate buydowns to help buyers get over their affordability hump. The approach helped lift sales of new U.S. homes 4.2% over 2022, but also cut into many builders’ profits. Wall Street Sees a Solid Year for
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Remind clients who recently bought a primary home in Florida not to miss the Homestead Exemption filing deadline of March 1 – it could cost them thousands of dollars. PLANT CITY, Fla. – If you’ve recently acquired a home in Florida and missed the Homestead Exemption filing deadline, it could cost you thousands, according to Hillsborough County Property Appraiser Bob “Coach” Henriquez. All Floridians should be aware of the Homestead Exemption and the Save Our Homes Amendment. As the March 1 annual filing deadline approaches, many homeowners who qualify for these significant tax breaks risk missing out. New homeowners in Florida should get acquainted
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Gov. DeSantis: $5.3M through the Rural Infrastructure Fund will strengthen public infrastructure; $1M through the Florida Disaster Fund will help with home repair. CEDAR KEY, Fla. – Governor Ron DeSantis recently announced more than $6 million in awards to Hurricane Idalia-impacted communities through the Rural Infrastructure Fund (RIF) program and the Florida Disaster Fund. $5.3 million in RIF awards have been awarded to help nine communities impacted by Hurricane Idalia by strengthening public infrastructure and expanding job opportunities for employers and families in rural communities. Florida Realtors Disaster Relief Fund: There When You Need It Realtors helping others in times of need is what this charity
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Among states, Florida had the highest percentage of decline (9.21%) in rent prices year-over-year in 2023, but monthly rent remains higher than the nation’s average. JACKSONVILLE, Fla. – Rent.com reported that in January, Florida had the highest percentage of decline (9.21%) in rent prices year-over-year in 2023 compared to other states. Rent in Florida, however, remains high at $2,095 monthly, compared with the national median rent of $1,964. Jacksonville had the sixth highest year-over-year increase (7.62%) in rents last year to a total median rent of $1,717, while Orlando had a median average rent of $2,119 after a 0.53% decline
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Sales of new homes rose nationally in 2023 for the 1st time in 2 years, up 4.2% from the previous year. However, fluctuating mortgage rates remain a wild card. LOS ANGELES (AP) – Housing market trends are shaping up in favor of a solid 2024 for U.S. homebuilders – as long as mortgage rates don’t jump back to the highs they hit late last year. Sales of new homes rose nationally in 2023 for the first time in two years, climbing 4.2% from a year earlier, according to the Commerce Department. This bucked the trajectory of the broader housing market, which remained mired in a deep slump as sales of
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By Joseph Tucci While easing, for-sale inventory remains tight in Florida and across the U.S. Buyers have to stay persistent and manage frustration levels during their home search. MERIDEN, Conn. – Ben Borecki and Raleighe Orszulak-Borecki, both 29, searched for about a year to find their perfect home. They visited over 20 houses and bid on five. Finally, the couple purchased a 1912 colonial in Windsor this January. They had viewed the house before and liked it, but it went off the market – only to be relisted months later and at a cheaper price. Buyers Should Reconsider ‘Timing’ the Market
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By Alessandra Young The HUD survey in 2023 found that, among U.S. states, Florida had the fourth-most homeless people, at 31,000 people – a count that rose 18% from 2022. HILLSBOROUGH COUNTY, Fla.  – On any given night last year, nearly 653,000 people – or one in every 500 – were homeless, according to the Department of Housing and Urban Development (HUD). Out of all the states in the country, Florida had the fourth-most homeless people, at 31,000 people, which is up 18% from 2022. On Thursday, hundreds of volunteers took to the streets, not only to count how many people experiencing
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By Marla Martin Florida Realtors: Fla.’s single-family median price up 3.8% ($405K), condo median up 3.2% ($320K). New listings and inventory levels up in both property categories. 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 lock-in effect among would-be home sellers who bought their homes years ago with a mortgage rate of 3% to
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