REI INK

Hot Economy, Inflation Likely to Keep Rates ‘Higher for Longer’

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Rise in New Home Listings Projected to Boost Sales Despite Recent Run-up in Mortgage Rates Stronger-than-expected economic and inflation data have pushed interest rates higher and financial markets to price in fewer Federal Reserve rate cuts this year, according to the April 2024 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group. While higher mortgage rates present renewed headwinds to the expected recovery in home sales this year, as well as

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ResiBuilt Expands Business Operations into For Sale Housing Market

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ResiBuilt, a trailblazer in the Build-to-Rent sector for the past 5 years, has recently launched its strategic expansion into the ‘Build for Sale’ sector, while affirming its unwavering commitment to Build-to-Rent endeavors. This expansion marks a significant milestone for ResiBuilt as it diversifies its business verticals and adapts to evolving market dynamics. “We are excited to embark on this new chapter of growth and innovation,” said Andy Capps, CEO of ResiBuilt.

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Redfin Reports the Typical U.S. Luxury Home Costs More Than Ever Before

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Luxury sales are outperforming partly because elevated mortgage rates aren’t a deterrent for many luxury buyers, as a record 47% of luxury homes were bought in cash at the start of 2024 The median-priced U.S. luxury home sold for a record $1,225,000 in the first quarter, up 8.7% from a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Prices of non-luxury homes rose at roughly

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Student Housing Asking Rents Reach New High

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Preleasing continues to outpace all previous years, and rent growth remained strong in March Preleasing at Yardi 200 schools hit 67.7 percent in March, exceeding last year’s pace by 2.4 percent, while rent growth accelerated to six percent, according to the latest Yardi® Matrix National Student Housing Report.  As of March, the average rent reached $895 per bedroom, marking an all-time high for the sector. A total of 41 universities had double-digit rent

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RE/MAX NATIONAL HOUSING REPORT FOR MARCH 2024

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Inventory Gains and a Surge of New Listings Highlight a March in Which Sales Climbed from February 2024 But Trailed March 2023  Home sales in March increased 21.6% over February while trailing the March activity of a year ago. At the same time, a 20.9% surge in new listings during the month fueled a substantial 7.7% expansion in inventory. The inventory gains helped expand the supply of homes for sale by 24.2%

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Home values rising fastest in costliest metros

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Inventory and rate lock are deciding factors in market competition this spring Those shopping for homes this spring are feeling vastly different levels of market heat depending on where they’re looking. Inventory is a critical factor, the latest market report from Zillow® shows.  “Shoppers in the market today should expect competition, especially for attractive listings on the lower end of the price range — a rare opportunity these days,” said Skylar Olsen, Zillow’s chief

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