The state got high marks for its net influx of educated workers, job creation rate (up 12.7%) and consumer spending (up 3.4%).
Freddie Mac economist: Strong economic and inflation data “caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates.”
Whether you’re new to real estate or just adjusting to today’s market, don’t let fear keep you from setting and reaching your sales goals.
In a tight home sale market, real estate pros may want to develop relationships with a network of renters, who might become homebuyers in the future.
Meeting the ongoing need for affordable options, a new 51-acre military housing development is in the works near the U.S. Southern Command HQ in S. Fla.
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%.
As home affordability continues to challenge buyers, builders are now testing the market for smaller, more affordable starter homes – some just 400 square feet.
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.
