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Renting Remains More Affordable Than Buying in Most US Metro Areas
The dream of homeownership is becoming increasingly elusive for first-time buyers as surging home prices and soaring mortgage rates make renting more appealing. In just three of the nation’s 50 largest metropolitan areas—Memphis, Tenn., Pittsburgh, Penn., and Birmingham, Ala.—it’s more cost-effective to buy than rent. High mortgage rates, averaging over 7%, have pushed up homeowners’Read …
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Over 55 Communities in Florida – Medley at Mirada 55 Plus
Are you looking for one of the Best Over 55 Communities in Florida? Medley at Mirada might be the right place for you! Located just north of Tampa in San Antonio, Florida, this brand new community is part of the…
Rents Are Falling the Most in These Former Pandemic Hotspots
Rental prices in the 50 largest U.S. metros dropped by 0.6% in August, with the median rent reaching $1,752 per month, according to Realtor.com. This marks the fourth consecutive month of year-over-year rent declines for studios and one- and two-bedroom properties. While rents are dropping, they remain above pre-pandemic levels, with costs being 23.7% higherRead …
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Florida Housing Market Update: August 2023
Closed sales of existing single-family homes were up on a month-over-month basis in August, but that’s likely in part due to August having a few more business days than July. As always, when we’re looking at very seasonal data like…
How Elevated Mortgage Rates Are Affecting Housing Starts
New-home construction dropped by 11.3% in August, falling short of expectations as builders shifted their focus from new starts to project completions due to elevated mortgage rates surpassing 7%. The annual pace of housing starts fell to 1.28 million, with single-family home construction posting a 4.3% decline and apartment construction plummeting by 26.3%, according toRead …
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