Mike Stump - Realty

07/19/2024

04/01/2023

https://www.floridarealtors.org/news-media/news-articles/2023/03/mortgage-rates-hit-lowest-level-6-weeks?utm_campaign=3-31-23+Florida+Realtors+News&utm_source=iPost&utm_medium=email

At 6.32%, the average 30-year, fixed-rate mortgage declined from last week’s average 6.42% – a ray of hope for buyers seeking to secure a home this spring.

03/30/2023

February 2023 brought 4.58 million in sales, a median sales price of $363,000, and 2.6 months of inventory. The median sales price is down 0.2% year-over-year, and inventory was up 0.9 months from February 2022. http://spr.ly/618237AWq

03/29/2023

https://stocks.apple.com/AfZcjqF7UQY-chiekYOe4NQ

High home prices and rising mortgage rates have changed the market for buyers considerably.

03/28/2023

First-time buyers were responsible for 27% of sales in February; Individual investors purchased 18% of homes; All-cash sales accounted for 28% of transactions; Distressed sales represented 2% of sales; Properties typically remained on the market for 34 days.

03/27/2023

https://www.nar.realtor/magazine/real-estate-news/home-and-design/homeowners-zeal-for-curb-appeal-may-pay-off-handsomely

Demand for outdoor features has boomed since the start of the pandemic. These projects stand to earn the most at resale, according to a new survey.

03/23/2023

https://www.floridarealtors.org/news-media/news-articles/2023/03/house-prices-declining-still-77-year-year?utm_campaign=3-20-23+Florida+Realtors+News&utm_source=iPost&utm_medium=email

But U.S. metros aren’t all the same. Of the top 10 states for price declines, 8 of 10 are in the West, as Miami, Tampa and Atlanta show the biggest price jumps.

03/18/2023

We are seeing apartment after apartment being built in Florida. Especially Pasco County!

Multifamily starts surged 24% in Feb., suggesting future relief for renters and condo buyers, but single-family starts rose only a marginal 1.1%.

03/17/2023

Financial Stress Pushes Mortgage Rates to 6.6%

After five weeks of increases, the average rate for a 30-year, fixed-rate mortgage fell to 6.6% from last week’s 6.73%. One year earlier it was 4.16%.