Florida Real Estate News

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HUD and Census Bureau: In Jan., new single-family home sales rose 1.5% month-to-month to a seasonally adjusted rate of 661,000. The pace is up 1.8% from Jan. 2023.
Real estate professionals who are watching, learning, and adapting will reap the benefits of new technologies, as the industry is starting to see with generative AI.
Economists at International Builders’ Show: Construction should gradually increase as the Fed is on track to cut rates during 2024’s second half with inflation slowing.
Fannie Mae: Homeowners aged 60+ like their homes and expect to age in place. Many feel good about their retirement financial plan and view home equity as a reserve.
Check the paperwork and read for context. “Non-recourse” is more of a description of how a loan works than a direct term, so it could be described differently.
Core inflation has declined, but housing costs remain high. Unless those costs cool, some experts doubt core inflation will return to the Fed’s 2% target.
That’s up from 6.90% last week, marking the 4th straight weekly increase. Rates have been creeping higher as reports show stronger-than-expected inflation.
NAR: Pending sales were down 8.8% year-over-year. Chief Economist Yun noted that “consumers are showing extra sensitivity to changes in mortgage rates.”
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However, showing the smallest such increase in nearly three years, consumer prices were up just 2.4% from a year earlier, down from a 2.6% annual pace in Dec.
NAHB: Builders predict multifamily starts will continue to decline (20%) this year, since units under construction are already near the highest level since 1973.
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While U.S. tax law supports the current definition of an “independent contractor,” recent changes to U.S. labor law call it into question, and that could potentially impact Realtors.
A listing broker didn’t tell their seller they received a finder’s fee from the buyer – but the fee didn’t impact the Realtor’s honest and ethical advice. Why is it an issue under the Code of Ethics if the finder’s fee was negotiated before taking the listing?

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