The University of Michigan’s consumer sentiment index for May was down 10% from a month ago.Consumer sentiment in May fell after three consecutive months of little movement, according to the University of Michigan’s consumer sentiment index.The final reading for May of 69.1 was a slight improvement from two weeks ago when the preliminary estimate saw the index drop 10 points to its lowest level in six months as consumers soured on inflatio
With unprecedented home prices and generationally high mortgage rates, more people are looking for rental options — and not apartments — but single-family homes.You've probably seen some of these communities throughout Central Florida. WESH 2 spoke with developers and renters about why this growing trend is here to stay.“I previously resided in New York and came to Florida for the good weather, more family-oriented environment, fresh air, s
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“Spring home buyers received an unexpected windfall this week,” says Freddie Mac’s chief economist.For the first time in a month, the 30-year fixed-rate mortgage fell back into the 6% range, bringing lower borrowing costs for home buyers who have been waiting for relief. “Spring home buyers received an unexpected windfall this week,” says Sam Khater, Freddie Mac’s chief economist.The decrease in mortgage rates—the 30-year loan avera
Newly built homes available on the market rose to 480K, representing a supply of 9.1 months at the current sales rate, up from an 8.5 month supply in March, according to US Census Bureau data New-home sales fell in April as inventory of existing homes increased modestly and inventory of newly built homes hit their highest level since November 2022, according to data released Thursday by the U.S. Census Bureau.Sales of newly built single family h
Indoor air quality is a hot topic these days. Technology and trends are driving improvement and development.In our modern living and working spaces, the quest for cleaner air has never been more timely. As we continue to seal our buildings tighter for energy efficiency, the importance of maintaining and enhancing indoor air quality (IAQ) escalates. This discussion delves into the latest insights, technological advancements and trends shaping our
Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.Now different drivers are pushing some rents higher — and throwing cold water on others.Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List. Rents cooled because a massive amount of new supply entered the marke
Despite financial challenges, buyers flock to greater housing options in the high-end market. Read more from NAR’s latest existing-home sales report.Existing-home sales fell last month as mortgage rates eclipsed 7% and home prices continued to rise. But some market segments are showing resilience: High-end home sales—listings at $1 million and above—posted significant gains in April, increasing 40% compared to a year ago, according to the N
Online views for real estate listings may provide insight into the architecture styles home buyers favor.Americans love a ranch-style home, which is the most admired home layout in 19 states, according to a new study from American Home Shield. Researchers analyzed thousands of real estate listings across the country to identify which common home styles are most and least admired in the U.S.Preferences in house style can differ significantly acros
With Tax Day approaching, make sure your clients are taking all the home deductions for which they may qualify.Nearly a quarter of homeowners(link is external) say they’re planning major renovations this year, and some of those projects may be eligible for a tax deduction. This could help alleviate some of the high costs of homeownership.Here’s an overview of a few examples of tax-deductible home improvements. As always, your
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