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Median Sales Prices Reach New High

More housing inventory will eventually tame home price growth in the upcoming months, says NAR’s chief economist. Read more from NAR’s latest housing report.Existing-home sales prices climbed to a record high in May, as home buyers—also up against mortgage rates that were then above 7%—must continue digging deeper into their pockets.The median existing-home sales price rose nearly 6% in May compared to a year ago, reaching $419,300, the h

Home Buyers May Find Slight Reprieve in Mortgage Rates

The 30-year fixed-rate mortgage saw another small incremental decline, averaging 6.87% this week.Mortgage rates continue to fall from their recent 7% highs, lowering borrowing costs for hopeful house hunters who may eagerly be looking for any type of price break. This week marked the third consecutive week for mortgage rate cuts, following signs of cooling inflation, Freddie Mac reports.“These lower mortgage rates, coupled with the gradually im

US Labor Market, Housing Data Point to Slowing Economy

First-time applications for U.S. unemployment benefits fell moderately last week, while new housing construction dropped to the lowest level in nearly four years in May, suggesting that economic activity remained moderate in the second quarter.The data on Thursday combined with tepid retail sales last month to keep a September interest rate cut from the Federal Reserve on the table. Financial markets are anticipating one or more rate cuts this ye

Housing Starts Plunge 19% in May as Homebuilders Act with Caution

Construction starts on new housing units dropped 5.5% to a seasonally adjusted annual rate of 1,277,000 —  19.3% lower than levels in May 2023, according to US Census data released ThursdayHousing starts dropped off in May as builders pulled back from new projects, according to new U.S. Census Bureau data released Thursday morning.Construction starts on new housing units dropped 5.5 percent between April and May to a seasonally adjusted

U.S. Consumer Sentiment Unexpectedly Drops to Seven-Month Low in June

The University of Michigan released preliminary data on Friday unexpectedly showing a continued deterioration in U.S. consumer sentiment in the month of June.The report said the consumer sentiment index fell to 65.6 in June after tumbling to 69.1 in May. Economists had expected the index to rebound to 72.0.With the unexpected decrease, the consumer sentiment index dropped to its lowest level since hitting 61.3 in November 2023.The continued slump

Freddie Mac Sees Improving Multifamily Investment Opportunities

Falling Property Prices, Interest Rates Improve Buying Conditions It may be slightly easier now to find attractive multifamily investment opportunities than it was at the end of last year, according to housing finance giant Freddie Mac.Freddie Mac’s Multifamily Apartment Investment Market Index rose by 8.7% in the first quarter as well as over the full year, with the annual index up 8.1%.The AIMI’s quarterly rise occurred nationwide and in al

Welcome to the Team Carlton Bishop Dealing the Tampa Bay Area

iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.REALTORS: Grow your real estate business, save time and build your wealth. 24/7 World-Class Support, Free Client Leads, Custom Website, Low Fees, and more

Mortgage Rates Spend another Week Under 7%

The latest inflation numbers show housing affordability remains a problem in the economic recovery.Mortgage rates cooled slightly once again this week, now averaging 6.95%, as they continued to dial back after last month’s surge and returned to averages typical of a year ago, Freddie Mac reports.“Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth,” says Sam

Amazon Commits another $1.4B to Affordable Housing Fund

Amazon has refilled its multibillion-dollar Housing Equity Fund with an infusion of money that it projects will preserve and create an additional 14,000 affordable housing units.The e-commerce giant committed to adding another $1.4B to its affordable housing fund, bringing the total fund size to more than $3.6B, Amazon announced Tuesday.Amazon launched it as a $2B fund in January 2021 with the goal to preserve and create 20,000 housing units


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