Rodney Cantrell’s Blog

US consumer prices rose 3.2% year-over-year in October, lower than expected. Inflation slowed, indicating that the Federal Reserve's interest rate hikes are cooling price spikes. Housing costs, including apartment rents, also slowed. The Chief Economist of the National Association of Realtors suggests that mortgage rates will decrease, and the Fed may consider cutting interest rates.…

Amid challenges, Florida remains a viable option for homebuyers. Florida's lack of state income tax attract Real Estate investors and residentsFlorida attracts investors due to: Thriving economy ↓ Unemployment Strong job market

Mortgage rates have risen over the past 18-mo as the Federal Reserve increased its benchmark interest rate to combat inflation.The Fed's actions indirectly influence mortgage rates, and if inflation is controlled, rates may eventually decrease.

California: $10T, ↓ 3% since the June 2022 peak. Florida: $3.8T, ↑ 4% since June 2022. New York: $3.7T, ↓ 0.2% since June 2022.

In November 2023, buying a home is a difficult process with high mortgage rates and a low housing supply. However, following certain steps in 2024 could make it easier for homebuyers. Tips to consider include waiting until the second half of the year when there is potential for interest rate cuts, shopping for a mortgage…

Florida holds the second most valuable housing market in the US, surpassing NY. Factors Behind Florida's Market Surge: Population growth ↑ housing demand Single-family median: ↑2% yearly to $415K ↑New home sales Rent stable

The CARES Act provided relief options for federally-backed mortgages during the pandemic, which helped keep Americans in their homes. Mortgage loans make up a significant portion of household debt. Financial assistance programs reduced delinquency rates, but missed payments have increased with the end of these programs. Delinquency rates vary by location, with the South and…

In October 2023, the inventory of homes for sale continued to grow late into the season, with 2.0% fewer homes actively for sale on a typical day compared to the same time in 2022. The total number of unsold homes, including homes that are under contract, decreased by 3.7%, and newly listed homes were 3.2%…