Friday, November 20, 2020 / by Burt Horwitz
Builders are almost giddy. An Index of 50 suggests a balance between optimism and pessimism, but Nov.’s confidence number hit 90 after a record-breaking 85 in Oct.
WASHINGTON – Calling it “another sign that housing continues to lead the economy forward,” builder market confidence for newly-built single-family homes increased five points to 90 in November. It shattered the previous record of 85 set in October, according to the latest NAHB/Wells Fargo Housing Market Index (HMI).
Builder confidence levels hit successive all-time highs in each of the past three months.
“Historically low mortgage rates, favorable demographics and an ongoing suburban shift for homebuyer preferences have spurred demand and increased new home sales by nearly 17% in 2020 on a year-to-date basis,” says NAHB Chairman Chuck Fowke. “Though builders continue to sign sales contracts at a solid pace, lot and material availability is holding back some building activity. ...
Monday, June 8, 2020 / by Burt Horwitz
Average 30-Year Mortgage Rates Rise Slightly to 3.18%
Last week’s record-breaking low for 30-year fixed-rate mortgages (3.15% – the third historical low this year) rose marginally to 3.18% this week.
BALTIMORE (AP) – Long-term mortgage rates increased slightly as the U.S. economy showed signs that the worst of the coronavirus-fueled recession may have passed.
The average interest charged on a 30-year mortgage was 3.18% this week, up from 3.15% a week ago, according to a report Thursday by mortgage buyer Freddie Mac. That average is down from 3.82% a year ago.
The economic collapse following the COVID-19 outbreak has corresponded with a decline in mortgage rates. But there are signs that the economy may have already bottomed as government data shows that applications for jobless aid – though still historically high – are steadily falling.
The average 15-year mortgage rate was unchanged from last week at 2.62%. This average has fallen from 3.28% a yea ...
Friday, April 17, 2020 / by Burt Horwitz
They may not get as much attention as freestanding houses, but the supply of condominiums has outpaced the supply of single-family homes for the past year, according to the National Association of Realtors.
With so many condos on the market, it makes sense for South Florida homebuyers to give them a look. There is nothing like owning a condo that’s right “on the sand’ affording the owner an ocean view and access to the beach. A condo (short for "condominium") is a private residential unit within a multiunit building, project, or community. While the residences are usually apartment-like—they share walls—they can also be semidetached, like townhouses, or even fully detached, too. The residences frequently share common areas, facilities, and amenities, swimming pools and internal garages.
Looking for a South Florida Condominium?
Contact Burton Horwitz Realtor
Keller Williams Realty
PROS OF BUYING ...
Friday, April 17, 2020 / by Burt Horwitz
You can search and view homes online at my website and when you've found the perfect home, I can arrange a virtual tour for you. Everything necessary to purchase the home can be done remotely..
Please contact me for more information
Burton Horwitz Realtor
Keller Williams Realty of Boca Raton
The Southeast Florida Home Source Team
Sunday, September 8, 2019 / by Burt Horwitz
Consumers felt better in both the short- and long-term measurements, suggesting optimism for the future.
GAINESVILLE, Fla. – As the U.S. entered its longest economic expansion in its history, consumer sentiment among Floridians increased 3.7 points in July to 100.2 – an increase from June’s revised figure of 96.5.
All five components that make up the index increased.
Floridians’ opinions of their personal financial situation now compared with a year ago increased 3.6 points from 93.2 to 96.8, though opinions varied greatly by demographics; male respondents and those under age 60 reported less-favorable opinions. Similarly, opinions as to whether now is a good time to buy a major household item like an appliance increased 3.2 points from 100.3 to 103.5, though men reported less-favorable opinions.
“Overall, these two components showed that views regarding current economic conditions improved among Floridians in July,” says Hect; ...