Pending sales slumped for the second consecutive month. NAR economist cites significantly weak supply levels, deteriorating affordability and too few new homes. Source: Florida Realtors

ATTOM says mediocre wage growth and an increase in the number of rental units could slow rental cost growth. In Orlando right now, rents are “basically flat.” Source: Florida Realtors

Residential buyers can go online for quick home-worth valuations, and a Fla. company hopes its new algorithm can do the same thing for commercial properties. Source: Florida Realtors

Long-term U.S. mortgage rates fell this week to their lowest levels of the year this week: 3.95%. For all of 2016, FRMs averaged 3.65%. Source: Florida Realtors

The spending plan lowers HUD’s budget by 22.9%, preserves support for 4.5M HUD-assisted households, nixes community block grants and cuts rental assistance. Source: Florida Realtors

Condo QandA: Also, a board of directors is supposed to have five members, but it’s down to four and no one wants to serve. Must they fill that vacancy? Source: Florida Realtors

Changing demographics from immigration and a growing interest from foreigners will bolster home sales activity and prices, according to NAR convention speakers. Source: Florida Realtors

NAR announced 2016 inductees into the RPAC Hall of Fame, and Fla. had the most honorees committing at least $25K. Watson, at $150K, set a new PAC record. Source: Florida Realtors

As originally designed, brokers would have uploaded listing data one time only into Upstream, but the goal pivoted; brokers will now have other entry options. Source: Florida Realtors

New home construction dropped 2.6% in April following a decline in March, but the drop comes from a cutback in multifamily units. Single-family homes rose 0.4%. Source: Florida Realtors