The NAHB Housing Market Index, which is a real-time read on builder confidence, dropped a whopping 42 points to 30 in April. This was well below the shot in the dark estimate of 55 and the largest one-month drop ever! Note that a reading of 50 is the baseline, with a number above it signaling […]
In Review: Week of April 13th, 2020. The continuing impact of the COVID-19 pandemic was evident across a wide-range of the U.S. economy in the latest week, as data for a variety of sectors was released. Like the previous three weeks, Initial Jobless Claims once again climbed into the millions, as 5.25 million people filed […]
CoreLogic released their home price index, which is an important appreciation report. The data showed that home prices rose 0.6% in February and 4.1% annually, which was an increase from 4% in the prior report. The cities with the highest annual basis increases were Washington DC (4.8%), Boston (4.5%) and Los Angeles (4.3%). While this […]
Housing data that was reported last week still reflects a pre-virus environment. The Case-Shiller Home Price Index is considered the gold standard for home appreciation and features several important indexes, including the National Index which covers all nine U.S. Census divisions and reported a 3.9% annual gain in January. This was an increase from 3.7% […]
It’s amazing to me, but, right here in Miami-Dade County, there are over 308,096 residents who are currently renting but can afford to purchase a home. They are qualified to buy a home, so why wouldn’t they? Some people think that the housing market isn’t stable, but home prices in Miami-Dade County are forecasted to […]
It’s amazing to me, but, right here in Broward County, there are over 184,274 residents who are currently renting but can afford to purchase a home. They are qualified to buy a home, so why wouldn’t they? Some people think that the housing market isn’t stable, but home prices in Broward County are forecasted to […]
There’s lots of talk right now about a recession coming in the next couple of years. What would it mean for you and your mortgage and real estate needs? Historically, interest rates have declined pretty dramatically, giving us a great opportunity to refinance. So as a strategy, if we’re taking out a mortgage today, we […]
Covid-19 has caused a virtual economic shutdown to stop its spread and preserve health. We will defeat this virus and our economy will begin to recover as finding opportunity during these challenging times appears on the horizon. The economic slowdown will likely cause home values to take a modest dip over the short term. But […]
Everyone’s concerned about the Coronavirus, its impact on the economy, and on housing. But before the Coronavirus took hold, housing was very strong, with both new construction data and existing home sales at 13-year highs. We expect the strength to resume when things get better, and they will get better! Sure, there might be a […]
The Covid-19 Coronavirus has led to some challenging times for all of us. The Government has created the CARES Act to assist homeowners whose income may have been adversely impacted by the coronavirus. One of the components of the CARES Act is the possibility of mortgage forbearance. Forbearance is often misinterpreted. Many people are mistakenly […]
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