A tight inventory of new homes didn’t slow growth in Sept. as new home sales rose 3.1% thanks to recent hiring gains and still-low interest rates. Source: Florida Realtors
SandP index: Home prices rose in August
Prices went up 5.1% in August after a 5% gain in July as an increasing number of buyers competed for a decreasing number of listings. Source: Florida Realtors
Your buyers' nemesis: Student debt, high rent
Study: 53% of potential homebuyers with student loan debt say the debt is “somewhat” or “very much” an obstacle to them buying a home, up from 49% in 2014. Source: Florida Realtors
Supreme Court limits benefits when insurers go broke
A property-insurer-paid Fla. fund helps owners if their property insurer goes bankrupt, but a payout doesn’t have to be as good as the benefits stated in a now-defunct policy; and the court ruled that a 2011 law can be applied retroactively. Source: Florida Realtors
Election campaigns not focused on housing issues
NAR created a list of top concerns today’s political candidates will deal with once in office, although housing hasn’t been a high-profile campaign topic. Source: Florida Realtors
Forecast: 17M first-time buyers within 5 years
A TransUnion study predicts a strong uptick in first-time buyers as aging millennials start families and wounds from the Great Recession continue to heal. Source: Florida Realtors
Authority to investigate homeowners' associations?
Legal QandA: Can HOA owners report their association to the state? Can condo directors accept restaurant gift cards? Can I sell my condo but keep the boat slip? Source: Florida Realtors
ATTOM: The foreclosure crisis is over
For the first time in a decade, the time it takes to foreclose on a home is down. Fla. remains a top foreclosure state, but it’s now No. 5 for foreclosure rates. Source: Florida Realtors
Mortgage help for victims of Hurricane Matthew
Fla. families with mortgages backed by FHA, Fannie Mae or Freddie Mac may be eligible for mortgage protection, and their penalty fees could be waived. Source: Florida Realtors
Court: Consumer watchdog structure unconstitutional
A federal appeals court ruled that CFPB’s structure – the U.S. consumer bureau with oversight over RESPA rules and most financial companies – is unconstitutional. Source: Florida Realtors
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