New apartments are being completed at the fastest pace on record and that’s leading to rents falling in some parts of Florida.
Despite Fed rate cuts, mortgage rates rose on economic confidence even with weaker job gains and temporary factors that affected the market.
NAR’s Board of Directors approved the association’s operating, advocacy and consumer ad campaign budgets for 2025, among other actions.
NAR’s chief economist said there’s a rebound on the horizon for commercial brokers and agents. Commercial assets will recover as the economy improves.
A typical homeowner has accumulated $147,000 in housing wealth over the last five years. Prices remain on solid ground, NAR’s chief economist said.
Consumer sentiment hits its highest since April. Long-term business conditions have reached their highest optimistic point in almost four years.
Despite higher home prices, the share of consumers who think it’s a good to time to buy increased to 20%. Those who think it’s a good time to sell declined to 64%.
Demand for apartments remains strong, but high construction costs, financing challenges, land shortages and regulations will slow development in the coming months.
NAR released a new guide for first time buyers and a video series for Realtors related to the practice changes for the proposed settlement.
Despite a drop in international property purchases in 2024, Florida remains appealing, with strong demand and opportunities for buyers.
