As home affordability continues to challenge buyers, builders are now testing the market for smaller, more affordable starter homes – some just 400 square feet.
NAR: Despite gains, racial minorities still faced disparities. Black homeownership lagged at 44.1%; rates for Asian (66.3%) and Hispanic Americans (51.1%) were records.
For 25 years now, NAR has honored Realtors who strengthen their communities through their volunteer service. Five winners receive $10K grants for their cause.
Census Bureau: Weakness in multifamily starts pushed overall housing starts down 14.8% in January. Single-family building permits rose 1.6%; multifamily dropped 7.9%.
Farm owners in Polk and Putnam counties have signed deals worth nearly $9M with the Dept. of Agriculture to restrict future residential and commercial development.
Real estate pros should be aware of indications that a client may not be ready to become a homebuyer, such as an unwillingness to seek mortgage preapproval.
Panhandle residents with housing issues caused by the Jan. 9 severe weather are urged to apply for the RRF grant money to help their recovery efforts.
Some data shows that global real estate funds operated by private-equity firms held $544B in cash at the end of 2Q 2023, up from $457B at the end of 2Q 2022.
For the most part, mortgage rates have stabilized — and delaying a purchase could end up backfiring as home prices spike.
More inventory potentially hitting the market paired with stabilizing interest rates allows buyers some breathing room, NEFAR president says.
