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Greater Palm Beach Area Residential Sales Rise in Early 2025

West Palm Beach Leads the Nation in All Cash Residential Purchases According to the Miami Association of Realtors, total home and condo sales in Palm Beach County saw a year-over-year increase in January 2025. Residential sales rose by 3.3%, climbing from 1,444 to 1,491 transactions. Single-family home sales experienced a 4.81% increase, rising from 811 to 850, while condo transactions saw a modest 1.3%...

New Apartments in U.S. Are Leasing at Slowest Pace on Record

New data from Redfin reveals that less than half (47%) of newly built apartments completed in Q3 2024 were rented within three months. This matches Q4 2023 for the lowest absorption rate on record, aside from the early pandemic period. Redfin's analysis is based on the U.S. Census Bureau's seasonally adjusted absorption rate data for unfurnished, unsubsidized, privately financed rental apartments in...

U.S. Mortgage Rates Drop to 4 Month Low in March

Residential mortgage demand surges 20% higher than last week Based on new data from Freddie Mac's latest Primary Mortgage Market Survey, the U.S. 30-year fixed-rate mortgage (FRM) averaged 6.63% as of March 6, 2025. Sam Khater "As the spring homebuying season gets underway, the 30-year fixed-rate mortgage saw the largest weekly decline since mid-September," said Sam Khater, Freddie Mac's Chief...

Overall U.S. Mortgage Delinquency Rates Dip in December

According to CoreLogic's latest Loan Performance Insights Report for December 2024, 3.1% of all U.S. mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure). This figure remains unchanged from December 2023. The report also highlights the foreclosure inventory rate, which stood at 0.2% in December 2024, reflecting a 0.1% decrease from the previous year and...

Who’s winning the home equity war?

According to ATTOM’s third quarter 2024 Home Equity and Underwater Report, 48.3% of mortgaged residential properties in the U.S. are considered equity rich. In the first quarter of 2024, homeowners across the U.S. saw a remarkable surge in their equity, gaining an impressive $28,000 on average. According to CoreLogic, total home equity skyrocketed to an astounding $33.8 trillion by May 2024—up from...

Without action, cuts to Social Security benefits could induce higher elder poverty rates

Retirement benefits for recipients of the U.S. Social Security program must be scaled back by 2033 if there is to be any chance of sustaining full retirement benefit payouts, but a consistent lack of attention by both chambers of Congress could necessitate a benefit cut if inaction persists over the next nine years. This is according to a new report by CNBC, citing recent research from the American...

Younger homebuyers have concerns over AI’s role in the mortgage process

Even as artificial intelligence (AI) becomes more prominent in the mortgage industry, most millennial and Generation Z homebuyers are hesitant to rely solely on a fully automated application process to get a loan, according to a new study.  A survey from mortgage technology firm Cloudvirga, conducted in September, gathered insights from more than 1,000 millennial and Gen Z respondents, the majority of...

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