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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$25B in Rental Assistance Is on the Way: Who Will Qualify?

As part of last month’s COVID-19 stimulus package, $25 billion in rental assistance funds are expected to be disbursed to states today, Jan. 26. There could be a rush for funds with an estimated 14 million Americans are behind on their rent. Further, rental arrears in the country may be near $70 billion, CNBC reports.…

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Biden Takes Aim at Appraisal Bias, Housing Disparities

The Biden administration is zeroing in on homeownership and small business development as avenues to close racial wealth gaps, announcing a spate of new programs Tuesday aimed at supporting communities of color and disadvantaged neighborhoods. The announcement comes on the centennial of the “Black Wall Street” massacre in Tulsa, Okla., a racist attack on a…

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Here’s how to fight a higher-than-expected property tax bill

If the value of your home ballooned during the Covid pandemic, you may receive an inflated property tax assessment in the mail. There are ways, however, to combat a higher bill, experts say. Despite double-digit growth in single-family home prices, property taxes only increased by 1.8% in 2021, with an average payment of $3,785 annually, according…

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Real Estate Pros See Rentals as Lead Generators

Experienced real estate pros are turning to rentals to help expand their businesses and provide an added revenue-generating opportunity, finds a new study from RentSpree, a software provider for tenant screening, renter management, and more. In 2020, real estate agents with three years or more of experience were three times more likely to complete a…

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Lead-based Paint Violations Surge in Remodeling Boom

As home remodeling increases, the EPA is warning remodelers to take special precautions in older homes and watch out for lead-based paint violations. Lead-contaminated dust from chipped or peeling lead-based paint in homes built prior to 1978 is one of the most common causes of elevated blood levels of lead in children, according to the U.S.…

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Some Lenders Set to Resume Foreclosures in July

Pandemic-related moratoriums on foreclosures and evictions are set to expire June 30, and some lenders plan to start resuming foreclosures in July. About 2.1 million homeowners are still in mortgage forbearance, according to the Mortgage Bankers Association. As of April, about 1.8 million households who aren’t in forbearance were 90 days delinquent on their loan,…

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