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Realtor.com® April Housing Report

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The Required Household Income to Purchase a Home Exceeds $250,000 in Four California Metros According to the Realtor.com® April housing data, the national required household income to purchase the median priced home rose to $116,000, up $5,900 from a year ago, after accounting for the cost of tax and insurance. For hopeful buyers in California’s major metros of Los Angeles, San Diego, San Francisco and San Jose the household income required to purchase the median-priced home is over double the national figure. April

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INCREASING SHARE OF LOCAL COMMUNITY DEVELOPERS BUYING AT AUCTION EXPECT HOME PRICES AND RENTS TO DECLINE IN 2024

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40% expect home prices to decline in 2024, up from 32% in 2023 and 17% in 2022 29% expect rents to decline in 2024, up from 16 percent in 2023 49% describe their local real estate market as “overvalued with correction possible” 60% still expect to increase investment property purchases in 2024 Auction.com, the nation’s leading distressed real estate marketplace, released its 2024 Buyer Insights report, which shows that an increasing share

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NRHC Applauds Governor Kemp for Signing the “Georgia Squatter Reform Act”

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The National Rental Home Council (NRHC) commends Georgia Governor, Brian Kemp, for signing into law House Bill 1017, the “Georgia Squatter Reform Act,” legislation providing legal protections and recourse for homeowners in the event of the illegal occupation of their properties. Passed with overwhelming bipartisan support in both houses of the Georgia legislature, HB 1017 codifies and reinforces basic, foundational rights and responsibilities of homeowners throughout the state. “NRHC commends

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Home Prices Stagnate in Florida and Texas as Supply Soars

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The number of homes for sale in Cape Coral, FL and North Port, FL surged roughly 50% from a year earlier in March—more than anywhere else in the country. And in McAllen, TX, supply jumped 25%. On the west coast of Florida, housing supply is surging, sellers are cutting their asking prices and the time it takes to sell a home is soaring—all at a faster rate than anywhere else

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PROFITS FOR U.S. HOME SELLERS DECLINE AGAIN IN FIRST QUARTER OF 2024 AS PRICES FALL

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Profit Margins on Typical Home Sales Nationwide Decrease to 55 Percent; Returns Slip Downward as Median U.S. Home Price Slumps 4 percent ATTOM, a leading curator of land, property, and real estate data, released its first-quarter 2024 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States decreased to 55.3 percent in the first quarter – the smallest level in more than two years. The

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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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