A recent study by Zillow on home sales in 2023 reveals that listing your home in the early weeks of June could net you a 2.3% higher sale price. This marks a shift from 2019, with the optimal listing period moving to June, likely influenced by mortgage rates. The prime listing window varies across the U.S., starting in late February in San Francisco and extending to early July in New York and...
In a significant move to address the nation's housing crisis, President Joe Biden, in his State of the Union address, unveiled comprehensive proposals aimed at enhancing housing affordability and supply. Recognizing the hurdles facing first-time homebuyers and those looking to sell their starter homes, Biden's plan introduces a $10,000 tax credit, designed to stimulate market movement and assist over 3.5...
Recent data from a RentCafe study unveils a striking trend among adult Gen Zers, ages 18 to 26, with a whopping 68% still living with family members. This trend isn't isolated to the youngest working generation, as the study also highlights that 1 in 5 millennials remain in the familial nest. These statistics challenge the traditional benchmarks of independence and financial security that previous...
As spring break approaches, bringing with it the promise of sun-soaked days and lively celebrations, Governor Ron DeSantis has taken a proactive step to ensure the safety and security of both residents and visitors in Florida. In a recent announcement, the governor revealed a significant deployment of 140 state troopers across various Florida destinations, including Volusia County, renowned for its popular...
In January, the number of total foreclosure filings rose by 10% from the previous month and increased by 5% compared to the same period last year, as reported by Attom, a provider of property data. There's also evidence suggesting that wider economic trends are starting to impact foreclosure activities more significantly. Rob Barber, the CEO of Attom, mentioned in a report that various external...
We're back with our Daytona Beach Housing Update. My biggest takeaway is the increase in number of days on market. 160 days is a very long time. Sure the list price is 28% higher but that is standard for Volusia County. You would think Winter for Daytona Beach would be a hot time for listings. That certainly wasn't the case this Winter. Looking forward to tracking this during the Spring. Daytona...
We're back with our Ormond Beach Housing Update. My biggest takeaway is the list price is finally decreasing. Sellers are making adjustments to the average sales price when all last year they were roughly 40% too high. Sellers becoming realistic with buyers needs leads to a very healthy real estate market. Ormond Beach Housing Update January 2024 February 2023 February...
We're back with our Port Orange Housing Update. My biggest takeaway is the days on market is stabilizing with 90 days on market. If you're a seller you should expect to sit on market without an offer for 45-60 days. Big change from 2022 where the average days on market were 55. Port Orange Housing Update January 2024 February 2023 February 2024 Percentage Difference Number of...
We're back with our New Smyrna Beach Housing Update. My biggest takeaway is the increase in average sales price. I believe it's an outlier of a month that had a few big closings. The median sale price was down 15% from last year. New Smyrna Beach Housing Update January 2023 February 2023 February 2024 Percentage Difference Number of...
The ever-widening gap between U.S. median house prices and median income is a pressing issue that affects millions of Americans. Over the past few decades, we've witnessed a significant divergence: while house prices have soared, wages have stagnated, adjusting for inflation. This disparity has made homeownership an increasingly elusive dream for many, particularly for first-time buyers and middle-class...