Drop in Builder Confidence Continued in Sept.
The homebuilders’ confidence index dropped from 49 to 46 this month, where any number below 50 indicates that pessimism outweighs optimism.
Higher Rates Keep 20% of Sellers from Listing
Many homeowners want to upsize or downsize, but an estimated 20% stay in place to avoid replacing their current low mortgage rate with a higher one.
Aug. Housing Starts Surge 12.2% Thanks to Multifamily
Single-family home starts rose 3.4% last month and are down 4% for the year. But Aug. multifamily starts – apartments and condos – surged 28%.
NAR Mentorship Program Discovers New Opportunities
The NAR Spire program pairs real estate pros in underserved areas with experienced practitioners to help them explore and expand their business opportunities.
How to Use a Multiple-Offer Mindset
While the market is shifting, homes are continuing to receive multiple offers. Agents should prepare clients for it and find out as much as possible about the property.
Rising Prices, Rates Hurt Middle-Class Buyers
Even as the housing-price runup slows, middle-class buyers – in the West and elsewhere – are still struggling to find a home they can afford where they want to live.
HUD Seeks to Help People Without Access to Shelters
About $54.5M is available to groups serving unhoused people in rural areas, which saw unsheltered homelessness increase by 8.3% from 2019-2020. Deadline is Oct. 20.
Downsizing Dilemmas: Unexpected Delays, Expenses
Older homeowners looking to downsize can help eliminate surprises by getting a realistic picture of what their house might sell for and what smaller homes might cost.
Consumers Expect Inflation to Drop by Next Year
Fed survey: Consumers expect the annual inflation rate to be 5.7% a year from now, beating the 6.2% expectation in July – and they’re more optimistic about the future.
Can Condo Board Hire Firm Without Residents’ Input?
Real Estate Q&A: The condo board hired a firm to remove iguanas from common areas. Can they do that without a vote? Yes, under the “business judgement rule.”