Suburbs: Where Americans are Migrating

Posted by Florida Realty Marketplace on October 16th, 2017

Politics and affordability are causing Americans to relocate.

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In the first half of 2017, 7.4 percent more people moved out of blue (Democratic) counties than to them, while red (Republican) counties experienced a 1 percent increase. Purple counties, which are classified as counties that share an equal balance of Democrats and Republicans, gained 2.3 percent more than they lost, and swing counties in swing states experienced 1.8 percent more Americans moving in than out.

“As blue counties are becoming increasingly less affordable, we see a great number of residents moving to red counties where they can afford the lifestyle they want,” said Chief Economist Nela Richardson.

According to the data, the shift is…

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Home construction spending rises: Could it impact home prices?

Posted by Florida Realty Marketplace on October 11th, 2017

Home construction on the rise, but is it enough?

Slow housing starts have played a big role in creating today's inventory-strapped real estate market. But according to new data from the National Association of Home Builders (NAHB), hope for more home construction—and subsequently lower prices—just may be in our sights.

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Builders pick up the pace

According to NAHB analysis of the latest U.S. Census Bureau Construction Spending report, private residential spending jumped 0.5 percent in August. This marks its fourth monthly increase in a row. Over the year, private residential construction rose nearly 12 percent.

FHA 203(bk) home construction and rehab loan: pros and cons

Private residential construction totaled…

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New Home Buyers Unafraid to Jump into the Housing Market

Posted by Florida Realty Marketplace on June 12th, 2017

Genworth Mortgage Insurance recently released their inaugural report on first-time homebuyers. Source data dates back to 1994 and analyzes over 20 million records.

The survey tracks home sales to first-time homebuyers on a monthly basis, publishes quarterly, and compares the data against national housing market indicators. It is also singles out and identify homebuyers that purchased their home using a VA loan, USDA loan, FHA loan, or with a low downpayment coupled with mortgage insurance instead of the traditional 20 percent downpayment that has historically been required.

The report found that this demographic accounted for 424,000 single-family home sales, or 38 percent of the total homes sold in Q1 of 2017. This amount is an 11 percent…

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