Indian River, Collier Rental Investors See Returns

Landlords in Indian River and Collier counties are experiencing rising investment returns due to rents increasing slightly faster than home prices, ATTOM found. MIAMI – Owners of single-family rentals in Indian River and Collier counties are leading the nation in returns on their investments due to rising rents in conjunction with other market forces that are driving rental demand, according to the property data analytics company ATTOM. According to ATTOM’s newly released Q1 2024 Single-Family Rental Market Report, between 2023 and 2024, median three-bedroom rents increased more than median single-family home prices in 216, or 63%, of the markets analyzed.
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Builder Confidence Peaks Since July 2023

Builder sentiment in the single-family home market surpassed the breakeven point of 50 since July 2023 and saw the fourth consecutive monthly gain, according to the NAHB/Wells Fargo HMI. WASHINGTON – Builder confidence in the single-family home market climbed three points in March, driven by a lack of existing inventory, strong demand and falling mortgage rates pushing buyers to new construction, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The rise in the builder confidence index to 51 marks the highest level since July 2023 and the fourth consecutive monthly gain for the index.
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Some Florida Cities See Jump in Active Listings

In Florida and nationwide the housing supply is rebounding as sellers get used to elevated mortgage rates and the lock-in effect eases, Redfin found. MIAMI – Active listings, or the total supply of homes for sale, in Cape Coral, North Port and Fort Lauderdale saw the biggest jump in the nation in February, the real estate brokerage firm Redfin reported. Nationwide, active listings climbed 0.8% from a month earlier on a seasonally adjusted basis and were little changed (-0.1%) from a year earlier — the smallest annual decline in months. Nationally, new listings jumped 3.8% month over month on a
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NAR Agrees to Proposed Litigation Settlement

By Amy Connolly Florida Realtors President Gia Arvin said the state association “looks forward to continued opportunities for our members to provide their expertise and valued services.” ORLANDO – The National Association of Realtors® (NAR) announced a proposed $418 million settlement agreement to the Sitzer-Burnett verdict that would end litigation of claims brought by home sellers related to broker commissions. The agreement resolves claims against NAR, more than one million NAR members, state/territorial and local Realtor® associations, all association-owned MLSs and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion
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U.S. Consumer Sentiment Ticks Down Slightly

By Christopher Rugaber Consumer views remained mostly in a holding pattern in March, dipping slightly from the previous month. Sentiment is about halfway between its all-time low, which was reached in June 2022. WASHINGTON — Consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 76.5 in March, barely below February’s figure of 76.9. Americans’ outlook has essentially remained fixed since January, when it leapt higher. Sentiment
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Helping Loved Ones from Home to Assisted Living

Selling a home before moving into an assisted living facility presents challenges not seen in other moves.  Family members can help navigate the process to make it run smoothly. NEW YORK – Families must make a number of important decisions when an aging relative decides the time is right to move into an assisted living facility. Such facilities help older individuals who are having troubling living independently. In addition to finding the right facility for a loved one, many families have to decide what to do with their aging loved one’s home. Aging individuals with companions such as a spouse
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Americans Living Farther from Work in Bigger Homes

By Taryn Phaneuf A new study found American workers are living farther from their workplaces, likely due to remote work opportunities. As a result, people bought bigger homes with home offices. NEW YORK – Freed, perhaps, from a daily jaunt to the office, the average American worker now lives almost three times farther from their job than they did before the pandemic, research shows. Workers’ average distance to their employer increased from 10 miles in 2019 to 27 miles in 2023, according to a study released March 3 by Gusto, a payroll software firm, and the Stanford WFH Group, a
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All-Cash Buyers Surge to Decade High

By Melissa Dittmann Tracey Naples and the Cape Coral-Fort Myers areas are among the top 10 metros in the United States with the highest concentration of cash buyers in 2023, the National Association of Realtors® found. WASHINGTON – Home buyers who paid cash accounted for 32% of home sales in January, marking the highest rate since 2014, the National Association of Realtors® reports. Many leveraged the equity from a prior home sale. Vacation-home buyers and real estate investors made up the bulk of all-cash buyers over the last six months, according to NAR. However, in the last two years, more
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Mortgage Rate Declines for Second Week

By Alex Veiga Borrowing costs for average 30-year U.S. mortgages and 15-year fixed-rate mortgages dropped Thursday to levels seen in early February. LOS ANGELES — Home loan borrowing costs fell for the second week in a row, pulling the average long-term U.S. mortgage rate to its lowest level since early February — good news for prospective home shoppers as the spring homebuying season gets underway. The average rate on a 30-year mortgage dropped to 6.74% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.60%. Borrowing costs on 15-year fixed-rate mortgages, popular with
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Florida Realtors, MREA Partner for the Future

The Manitoba Real Estate Association and Florida Realtors agreed to develop a mutually beneficial relationship and opportunities while at the 2024 MIPIM in France. CANNES, France – Florida Realtors® and the Manitoba Real Estate Association (MREA) today signed a joint Memorandum of Understanding (MoU) as leaders of the two real estate professional organizations attended the 2024 MIPIM in Cannes, France. MIPIM is the premier real estate event for the international property industry. The MoU agreement establishes the cooperation of the two Realtor® organizations in developing a mutually beneficial relationship for their respective members, setting the stage for increased business opportunities. “As
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