Real Estate
1 in 4 U.S. Home Sellers Nationwide Now Lowering Asking Prices in June
Fast rising mortgage rates, economic uncertainty negatively impact home sales and prices mid 2022 According to national property broker Redfin, nearly two-thirds (61.5%) of homes for sale in Boise, ID had a price drop in June 2022.That’s the highest share of the 97 U.S. metros in Redfin’s analysis. Price drops have become a common feature…
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Residential Rents Nationwide Rise 14 Percent Annually in June
Smallest Rental Rate Increase Since October 2021 National property broker Redfin is reporting this week that residential rent increases tapered off in June 2022, with the national median asking rent rising 14% from a year earlier–the smallest annual increase since last October. Asking rents were up 0.7% from May, the smallest month-over-month gain since the…
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What you need to know about backing out of a home purchase when you’re under contract
If you’re a prospective homebuyer who is having second thoughts, you’re not alone. About 15% of all home contracts fell through in June, marking the highest share of cancellations since March 2020 — the start of the pandemic — when it was 17.6%, according to real estate brokerage Redfin. A year ago, the share was 11.2%.…
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Mortgage Credit Availability in U.S. Dips in June
Based on a report from the Mortgage Bankers Association that analyzes data from ICE Mortgage Technology, U.S. mortgage credit availability decreased in June 2022, according to the Mortgage Credit Availability Index (MCAI). The MCAI fell by 0.3 percent to 119.6 in June. A decline in the MCAI indicates that lending standards are tightening, while increases…
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Moves that homebuyers can still make to find a lower mortgage rate
After dropping to record lows in 2020 and 2021, mortgage rates are back up. Way up. While the past few weeks saw a reversal in the surge, at near 6%, current mortgage rates are still almost double what some homebuyers were paying in recent years. With soaring inflation and the possibility of further rate increases, some homebuyers…
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New Home Sales Increased in US, Before Fed’s June Rate Rise
After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike. Sales of newly built, single-family homes in May increased 10.7% to a 696,000 seasonally adjusted…
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Housing Market Competition in U.S. Eases This Summer
Homebuyers getting relief as sellers slash their prices at a record rate in mid-2022 Based on new data from national property broker Redfin, after years of tipping heavily in sellers’ favor, the scales of the U.S. housing market are finally balancing out. Soaring housing costs caused many house hunters to drop out in recent months,…
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Life Sciences Real Estate Investment Market Remains Red Hot in 2022
According to a new CBRE research report, investment in U.S. life sciences real estate increased by 62 percent last year, with further growth of at least 10 percent expected in 2022. Investment in life sciences real estate, comprised of lab and Research and Development (R&D) properties, reached $21.4 billion in 2021, a 62 percent increase…
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Orlando lawyers prep for flood of evictions, foreclosures
Central Florida attorneys are prepping for a seemingly inevitable wave of evictions and foreclosures that will impact businesses and residents and clog the court system. That’s because shuttered businesses and high unemployment caused by the coronavirus pandemic have people people here and across the nation falling behind on their mortgage and rent payments. In addition,…
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Winter Park lakeside home fetches week’s highest price tag
The new residents of Orlando’s most expensive residential property sold last week can catch views of the sunset over Lake Osceola from their master bedroom. A 5,345-square-foot Winter Park home sold for $3.75 million on July 13, making it the priciest local home sale for the week ending July 18, according to the Orlando Regional…
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