New Home Sales Mostly Unchanged in October
Commerce Dept.: Oct. new-home sales changed little from seasonally adjusted Sept. numbers, but they’re still 41.5% higher than they were one year ago.
What Will the New Post-Pandemic Normal Look Like?
Businesses plan for the future, but the pandemic presented a challenge: Will it be largely gone by summer? If so, a Harvard University study outlines likely changes, and researchers predict which pandemic changes will fade away – and which will probably stay.
CoStar Buys Real Estate Software Platform Homesnap
The all-cash $250M deal enables CoStar to market combined commercial and residential products like advertising to brokerages that operate in both real estate sectors.
Demand for Fencing Skyrockets as Owners Seek Privacy
If fences make good neighbors, there are a lot more good neighbors out there. Lumber costs have gone up, but many buyers want “toppers” to make an existing one higher.
Number of Fla. Homes Behind on Rent or a Mortgage? 51%
Census Bureau: Fla. has more people struggling with housing costs than any other state. More than half in a survey think eviction or foreclosure is “somewhat likely.”
3 Fla. Metros in Top 20 for Sales of New Homes
New home construction is up 8.6% year-to-year, with Jacksonville, Orlando and Tampa three of the top 20 U.S. metro areas for new-home sales.
Inability to Pay Rent and Loans Now Affecting Banks
Small community banks dependent on commercial RE and small biz loans feel added stress from COVID-19; 2 banks failed in Oct., including 1 in Fort Walton Beach.
Case-Shiller: Home Price Increases Picking Up Speed
Prices rose 6.6% year-to-year in Sept., the biggest increase since April 2018, thanks to still-strong buyer demand and record-low interest rates.
U.S. Borders with Canada, Mexico Remain Closed Through Dec. 21
Don’t get hopes up for cross-border holiday travel. With the pandemic apparently escalating, the borders aren’t expected to open anytime soon.
FHFA Conforming Loan Limits Rise Almost $38K in 2021
Fannie Mae and Freddie Mac will accept loans up to $548,250 next year – an increase from $510,400 in 2020. According to the seasonally adjusted FHFA Home Price Index, third-quarter housing prices rose 7.42% year-to-year, so loan limits will do the same.