Real Estate
Orlando Area Home Sales Slide 17 Percent Annually in August
According to the Orlando Regional Realtor Association’s housing data, median home price fell for the second consecutive month as home sales slide 17 percent annually in August. ORRA reports that the median home price for August 2022 was recorded at $377,750, a slight decrease of 0.8% compared to July’s median home price, $380,900. This is…
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Global Housing Markets Index Defies Market Forces, Prices Still Rising
According to international property consultant Knight Frank, global housing markets defied the odds in Q2 of 2022. While many expected a notable slowdown in the second quarter of 2022, both in terms of the index’s overall performance, and in relation to the number of countries seeing house price declines in annual terms. Neither materialized. Knight…
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U.S. Multifamily Builders Take Caution in Second Quarter
According to the most recent Multifamily Market Survey, U.S. builder confidence in the market for new multifamily builders was mixed in the second quarter of 2022, The Multifamily Production Index (MPI) decreased six points to 42 compared to the previous quarter, dragged down largely by the for-sale condo sector. The Multifamily Occupancy Index (MOI) fell eight…
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U.S. Homes Now Sell for Less Than Asking Price
According to national property broker Redfin, the average home sold for less than its list asking price for the first time in over 17 months during the four-week period ending August 28, as the housing market cooldown continued. Every month since March of 2021 has seen an average sale-to-list ratio of over 100%, meaning that…
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Home Builders Shift Toward Smaller U.S. Markets Continues
Based on the National Association of Home Builders latest Home Building Geography Index, there has been a shift in home building activity over the past 30 months, with notable slowing in large, metro urban areas as a result of initial Covid migration effects followed by declines in housing affordability in high-cost and highly regulated markets as…
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Bank of America launches zero down payment mortgages to help minorities buy their first homes — here’s who can apply
To help narrow a homeownership gap among Black and Hispanic-Latino communities, Bank of America is launching new zero down payment, zero closing cost mortgage products to help people in minority communities buy their first homes. The program — called the Community Affordable Loan Solution — will be available to certain markets including majority Black and/or…
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Orlando Home Prices Dip in July, First Time in 2022
According to the Orlando Regional Realtor Association, median Central Florida home price for July 2022 was at $380,900, a decrease of 1.6% compared to June 2022. This is the first time in six months that the median home price has fallen. Inventory jumped by 19.9% in a single month, from June to July – that’s…
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U.S. Multifamily Builders Take Caution in Second Quarter
According to the most recent Multifamily Market Survey, U.S. builder confidence in the market for new multifamily housing was mixed in the second quarter of 2022, The Multifamily Production Index (MPI) decreased six points to 42 compared to the previous quarter, dragged down largely by the for-sale condo sector. The Multifamily Occupancy Index (MOI) fell eight…
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Home prices weakened in June, but were still much higher than a year ago, says S&P Case-Shiller
Home prices in June were 18% higher than during the same month last year, according to the S&P CoreLogic Case-Shiller Indices. That’s a weaker pace than in May of this year, which showed an 19.9% annual gain. The 10-city composite rose 17.4%, down from 19.1% in the previous month. The 20-city composite was 18.6% higher…
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U.S. Home Buyers Continue to Flock to Climate Risky Areas
According to Redfin, U.S. homebuyers have paid a premium for high-fire-risk and high-flood-risk homes during and after the pandemic. This comes as more people have moved into than out of climate risky areas in recent years, in part because they can often get more bang for their buck and gain better access to nature. The…
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