Some Highlights: The percentage of income needed to afford a median priced home is almost half the percentage of income needed to afford median rent. Buying costs are significantly less than renting costs. The percentage of income needed to afford a median priced home is less than the historic norm. Source: Luxury Market News
Fed may be wedded to a June rate hike
Few experts thought the Fed would raise interest rates in June but that changed yesterday. An interest rate increase would directly impact ARMs and indirectly FRMs. Source: Florida Realtors
The Presidential Election and Its Impact on Housing
Every four years people question what effect the Presidential election might have on the national housing market. Let’s take a look at what is currently taking place. The New York Times ran an article earlier this week where they explained: “A growing body of research shows that during presidential election years — particularly ones like […]
Are Foreclosures Increasing or Decreasing?
Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market. CoreLogic, in their most recent National Foreclosure […]
Fla. will appeal State Farm policy ruling
A circuit court ruled that State Farm doesn’t have to submit its policy-count totals to the state, but Fla.’s new insurance commissioner says he’ll file an appeal. Source: Florida Realtors
In a Seller’s Market: Is it Time to Downsize?
A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their house in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market. In a recent blog, Dave Ramsey, […]
Supreme Court focuses on incorrect online data
The U.S.’s top court ruled that consumers may challenge incorrect data provided by websites in court – but they must prove actual harm to succeed. Source: Florida Realtors
Sales Up In Nearly Every Price Range
The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure. Only those homes priced under $100,000 showed a decline (-4.6%). The decline in this price range points to the lower inventory of distressed properties available for sale and […]
Rising prices could increase mortgage rates
Cheap gas currently keeps U.S. inflation in check, but that won’t last forever as rents rise. And when inflation returns, mortgage rates usually move higher. Source: Florida Realtors
Housing Market Snapshot [INFOGRAPHIC]
Some Highlights: Home sales are up 1.5% year-over-year and 5.1% month-over-month. Demand is still much higher than the available housing inventory which declined 2.2% from March 2015. This is the 49th consecutive month with year-over-year price gains. Source: Luxury Market News
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