A look at school enrollment data, change-of-address forms and Puerto Rican FEMA claims submitted from Fla. provide an estimate of post-storm mobility. Source: Florida Realtors
U.S. Senate makes few moves on flood insurance overhaul
March 23 is the deadline to reauthorize NFIP, and with few signs of consensus, it looks like Congress will punt again when it comes a flood insurance deal. Source: Florida Realtors
Pending home sales drop 4.7% in Jan.
A lack of homes for sale and an increase in average mortgage rates caused the number of homes under contract to drop to its lowest level in over three years. Source: Florida Realtors
U.S. consumer confidence hits 18-year high
Conference Board: Despite recent stock market volatility, consumers expressed greater optimism about short-term prospects for businesses and labor markets. Source: Florida Realtors
January new-home sales drop 7.8%
The Commerce Department says Jan. sales came in at a seasonally adjusted annual rate of 593,000 – the lowest since August and down from 643,000 in Dec. Source: Florida Realtors
Long-term mortgage rates climb again – to 4.40%
The average rate for a 30-year fixed-rate mortgage hit its highest point since April 2014 and moved marginally higher from last week’s average 4.38%. Source: Florida Realtors
CoreLogic: Housing costs to rise 15% this year
Higher home prices, mortgage rates and inflation will collectively make the typical inflation-adjusted mortgage payment go up 15%, economists predict. Source: Florida Realtors
Agreement on VOW listing displays expires in Nov.
Ten years ago when the internet was young, NAR limited virtual-office website displays, but DOJ said that was wrong because it unfairly restrained competition. Source: Florida Realtors
4 form changes go into effect today
The form updates approved at Florida Realtors’ Mid-Winter meetings go live today and will be accessible via Form Simplicity and other forms vendors this morning. Source: Florida Realtors
U.S. home construction jumps 9.7% in January
Commerce Dept.: Housing starts at a pace of 1.33M – the highest since Oct. 2016. Single-family starts up 3.7%, multifamily up 19.7% and building permits up 7.4%. Source: Florida Realtors
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