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News Updates

2023’s Severe Weather Events Are Proving Costly to U.S. Insurers

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The U.S. is experiencing its costliest year ever in 2023 for severe convective storms, with insured losses from these events exceeding $50 billion through the end of September, according to the Insurance Information Institute (Triple-I.) Severe convective storms include natural catastrophes such as thunderstorms with lightning, hail, tornadoes, and derechos, which are organized lines of thunderstorms with widespread damaging winds. Tornadoes in Arkansas, Illinois, and Mississippi caused a significant loss of life

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Redfin Reports 2023 on Pace For Fewest Home Sales Since 2008 As Mortgage Rates Hit 8%

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Redfin economists say this is likely to be the slowest sales year since the Great Recession as persistently high mortgage rates and low inventory spook buyers This year is likely to end with roughly 4.1 million existing home sales nationwide, the fewest since the housing bubble burst in 2008 after the subprime mortgage crisis. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. What Redfin economists say: “Buyers

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What Will Happen to the U.S. and Global Economy in the Next 50 Years?

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Renowned demographer and economist Alan Nevin’s new book, The Next Half Century, tells which cities and countries will fare best With so much talk of doom and gloom in the U.S. and abroad, it is easy to worry that life will only get worse in the next half century. But according to Alan Nevin, a demographer, economist and author of the new book, The Next Half Century, the data show something much brighter. Global

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Home Rents Continue to Rise in Q3 2023: 73% of U.S. Cities Experienced Year-Over-Year Rent Increases

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19% of the cities analyzed experienced double-digit rent increases Rentometer has released their Q3 2023 Rent Report for three-bedroom (3-BR) houses that are single-family rentals (SFRs). Rentometer collects rent data for all residential real estate asset classes, but this report is focused on SFRs because they are one of, if not the most, active asset classes today. Rentometer’s president, Mike Lapsley, commented that “we have increased our coverage and monitoring of

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Most Americans Would Buy a Known Haunted House to Save Money

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In 2023, 63% would offer below market value on a haunted house. A staggering 72% of prospective buyers, however, would feel uncomfortable living in a haunted house. More than 1 in 4 Americans (29%) believe they’ve actually lived in a haunted house — up from 24% in 2022, according to new research from Real Estate Witch, an online publication owned by Clever Real Estate that connects readers with expert real estate advice, Estate

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HOME-SELLER PROFITS CONTINUE RISING AS HOME VALUES HIT NEW HIGHS IN Q3

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Profit Margins on Typical Home Sales Nationwide Increase to Almost 60 Percent; Returns Rise for Second Straight Quarter as Median U.S. Home Price Hits Another Record; Seller Profits Still Down from Year Ago Following Earlier Slide ATTOM, a leading curator of land, property and real estate data, released its third-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States

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