September 2023

The U.S. real estate market experienced a large increase during the pandemic, however recently sales have slowed down and potential buyers are still facing high prices. With an increase in inventory, prices may start to stabilize and buyers will have more negotiating power. Factors such as job growth, population trends, and local economic conditions will […]

Smart home products and systems are increasingly influential in attracting buyers across different price points. >34% of likely buyers would pay a few thousand dollars extra for a smart home compared to a non-smart home. ~85% of buyers consider smart home features important, with ~40% expecting to pay no additional cost.

Housing prices remained high in June due to low inventory and increased buyer demand. Avg home sale price in June was $426K, close to the all-time high.

The Section 8 Housing Choice Voucher program is a federal housing assistance program that is administered by local housing authorities and overseen by the US Department of Housing and Urban Development (HUD). It provides assistance to very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing. Eligibility is based on

A survey of 1.3K Real Estate investors reveals that 60% believe the US is facing a housing shortage. 80% of these investors are selling renovated homes at or above asking price, indicating strong demand.

The Fed Paused its key interest rate at at its current range between 5.25% and 5.50%. Meanwhile a rate hike is expected on Fed next meeting on Oct 31- Nov 1.Officials cut forecasts for 2024 rate cuts, suggesting a "higher for longer" policy; benchmark rate above 5% by end of 2024.

Homebuyers in PA are facing challenges due to persistent low housing inventory.

According to the Mortgage Bankers Association's latest survey, US mortgage applications increased 2.3% from the week before. Refinance applications were up 3% and purchase applications were up 2%, but both were still significantly lower than the same week one year ago. Mortgage rates were mostly unchanged with the 30-year fixed rate remaining at 7.31%. Treasury

Property Tax/Rent Rebate (PTRR) program has been expanded to ~175K more Pennsylvania seniors, doubling rebates for many. The maximum rebate for seniors will ↑ from $650 to $1K. The income cap for renters and homeowners will ↑ to $45K/yr.