While $1M signified luxury property a short while ago, it’s now 8% of the nation’s housing stock – but a large percentage of those homes are still in Pacific Coast states.
Investors bid up prices for multifamily properties during the pandemic, and that debt will soon cost even more after higher interest rates affect loan rates.
An 18-association group that includes NAR sent a letter to federal housing regulators, saying that rent control makes affordable housing issues worse – not better.
If 9 out of 10 buyers start by typing “How do I buy a home?” into a search engine, it’s worth spending money to make sure your agency’s name is near the top.
Nine states, including Fla., have challenged flood insurance Risk Rating 2.0 in court. This week, the U.S. urged a judge to deny their preliminary injunction request.
The number of completed foreclosures rose 4% month-to-month, but Attom says the “housing market remains in flux” – they could go back up or keep dropping.
The Florida Real Estate Commission took the first steps to create a new rule by offering preliminary, rough-draft language and opening the rule for development.
Overall, though, U.S. home prices dropped 2.4% year-to-year because total declines outweighed increases. Still, 5% of markets saw double-digit price increases.
The average rate on a 30-year, fixed-rate mortgage rose for the third week in a row, up from last week’s average 6.90%. A year ago, it was 5.22%.
By 2026, GM says all its Ultium-based electric vehicles will have bidirectional charging – to be charged at home but also send power back to the house if needed.
