The National Association of Realtors is reporting that existing home sales were down 2% in September to a seasonally-adjusted annual rate of 3.96 million (down 15.4% year over year). Click here to read more.
Housing Starts Bounce Back in September
The U.S. government is reporting that privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,358,000, which is 7% higher than August’s revised number but is 7.2% lower than one year ago. Click here to read more.
Mortgage Applications Plummet to Lowest Since 1995
Reuters is reporting that the Mortgage Bankers Association’s weekly index of mortgage application activity fell 6.9% in the week ending 10/13/23 to 166.9, the lowest since May, 1995. Click here to read more.
Airbnb Users Driven to Underground Listings after NYC Crackdown
The New York Post is reporting that a recent crackdown on Airbnb listings by New York City has led to a black market for rentals that have now gone “underground.” The new rules imposed tougher regulations that restrict most short-term stays and limit reservations to only two guests. Click here to read more.
America’s Top 50 Rattiest Cities
The pest control & rodent removers over at Orkin say for the 9th year in a row Chicago continues its first-place spot on their Top 50 Rattiest Cities List. Los Angeles moves up to #2 with New York dropping to #3 position. Click here to read more.
50 Best Places to Buy a Home for Under $250k
GOBankingRates rightly says that a home is one of the key elements for many Americans, providing a long-term solution to their housing and a real estate investment for their portfolio. However, as they point out, many have been priced out of the market – especially when home prices translate into a super-high down payment. Click here to read more.
Proceed with Caution
Tony Youngs says as I go to various states pursuing distressed property acquisitions, I am finding an uptick in the number of sellers that are willing to sell their off-market properties. These include probate situations, tired landlords, elderly moving to assisted living, vacant properties, bankruptcies, and pre-foreclosures. The problem is, sellers still have the impression their homes are worth a lot more than is often the case. Click here to read more.
Halloween Fun Facts
Infographic: With “All Hallows’ Eve” and its subsequent candy begging quickly approaching, a recent graphic from the Census Bureau identifies places across the nation with SPOOKY-SOUNDING names. Click here to read more.
reiaSense – September 2023
Check out the September 2023 issue of reiaSENSE, National REIA’s monthly government affairs publication. Click here to download.
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