Real Estate, Updates, News & Tips - Hans Grevenstrale - iPro Real Estate

Builder Confidence Returns to Solid Ground

The latest HMI reading marks four consecutive months of increases in home builder sentiment.Builder confidence hit its highest mark since July 2023, the National Association of Home Builders (NAHB) reported this morning.The NAHB said a continued lack of existing housing inventory is still driving buyers to new home construction. Additionally, strong demand and declining mortgage rates are adding to the push toward new homes.Builder confidence in

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Welcome to the Team Melissa Cedillo Dealing the Orange County Area

iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.REALTORS: Grow your real estate business, save time and build your wealth. 24/7 World-Class Support, Free Client Leads, Custom Website, Low Fees, and more

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Multifamily Housing Starts and Permitting Activity Drop 10% Year-Over-Year

Permits for multifamily development dropped in 70% of metros in 2023, according to Point2’s annual Housing Construction Report.The past year saw over 1.4 million new homes added to the national housing inventory. Despite the 4% growth in units compared to 2022, both the number of new homes under construction and the number of permits dropped year-over-year (YOY).Permitting for new housing has declined for the second year in a row—down 11

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Consumer Prices Climbed 3.2% in February as 2% Goal Remains Elusive

The biggest economic story of the post-pandemic period has been inflation.It's a narrative that, at first, had two clear phases. First came the breakneck acceleration in price growth amid reopenings and job changes, when the 12-month inflation rate surged from less than 1% in June 2020 to more than 9% in June 2022.Then the fever appeared to break, with price growth slowing over the next 12 months to just 3.1% in June 2023.Yet it is now clear that

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Share of Cash Buyers Surges to Decade High

More buyers are leveraging equity from a previous home sale and dodging higher mortgage rates.Home buyers who paid cash accounted for 32% of home sales in January, marking the highest rate since 2014, the National Association of REALTORS® reports. Many leveraged the equity from a prior home sale.Vacation-home buyers and real estate investors made up the bulk of all-cash buyers over the last six months, according to NAR. However, in the last two

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Cooler Jobs Data Raises Stakes for February CPI Report

Here are key takeaways from the February US jobs report released Friday:Nonfarm payrolls effectively undershot expectations. While they climbed 275,000, more than the 200,000 median estimate in Bloomberg’s survey, that was only after the previous two months of payroll gains were revised lower by 167,000.The unemployment rate unexpectedly climbed to 3.9%, the highest in two years, with the household survey of employment showing the fou

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Weekly Mortgage Demand Surges 11% as More Homes Hit the Spring Market

Spring hasn’t officially sprung yet, but the spring housing market already appears to be on the move despite stubbornly higher mortgage rates.Mortgage applications to purchase a home increased 11% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was still 8% lower than the same week one year ago.The average contract interest rate for 30-year fixed-rate mortgages with

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Volatile Mortgage Rates Curtail Contract Signings

Borrowing costs, which are rising toward 7% again, are putting a damper on the housing market.Recent swings in mortgage rates are helping to drag down contract signings, which fell 5% in January, the National Association of REALTORS® reported this week. Pending home sales, a forward-looking indicator of housing activity based on contract signings, were down 8.8% compared to a year earlier.“The job market is solid, and the country’s total wea

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Save Money and Energy With Home Weatherization

Weatherization, also known as weatherproofing, protects a home’s interior from outdoor elements, moisture and extreme temperature fluctuations.Those who live in cold climates are well versed in adding an extra layer or two to stay warm as temperatures drop. Though homeowners might not think of it as such, the same concept applies to homes in cold climates. Weatherization, also known as weatherproofing, protects a home’s interior from outdoor

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New-Home Sales Show Promise With 1.8% Annual Growth

New-home sales increased 1.8% to a seasonally adjusted annual rate of 661,000. Economists say the report, alongside improved builder sentiment, shows promise for a robust springNew-home sales improved across the board in January, according to the U.S. Census Bureau and the Department of Housing and Urban Development on Monday.New-home sales, which include when a homebuyer makes a deposit or signs a sales agreement, increased 1.8 percent year

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