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Economic Trends | Beach Road Realty Inc Blog

Saturday, January 6, 2024   /   by Richard Eimers

7 Florida Cities Dominated 2023 U.S. Growth

By Amy Connolly
Seven Florida locales dominated the 2023 U-Haul Growth Index, indicating the Sunshine State continues to be a sought-after destination.

Seven Florida locales dominated the 2023 U-Haul Growth Index, indicating the Sunshine State continues to be a sought-after destination.
PHOENIX – Seven regions in Florida lead in the highest number of one-way U-Haul moves in 2023, underscoring the Sunshine State’s continued allure and appeal.
The U-Haul Growth Index found Florida represented 28% of the top 25 growth cities – the seventh consecutive year the state has had the most cities represented on the list.
Palm Bay-Melbourne
Ocala
Charleston-North Charleston, S.C.
Sarasota-Bradenton
Austin, Texas
College Station-Bryan, Texas
Charlotte, N.C.
Huntsville, Ala.
Dallas
Myrtle Beach-North Myrtle Beach, S.C.
Kissimmee-St. Cloud
Panama City-Panama City Beach
North Port
Boise, Idaho
Wake Forest, N.C.
Conroe, Texas
Knoxville, Tenn.
Surprise, Ariz.
A ...

  beach road realty, richard eimers, eimers group, florida cities, us growth, economic trends, city growth, florida economy, urban development, 2023 growth

Friday, December 22, 2023   /   by Richard Eimers

Average Long-Term U.S. Mortgage Rate Falls to 6.67%

By Alex Veiga

Some economists say home sales will increase in 2024 as mortgage rates ease.

LOS ANGELES (AP) — Home loan financing costs eased again this week, pulling the average long-term U.S. mortgage rate down to a six-month low.
The average rate on a 30-year mortgage dropped to 6.67% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.27%.
The latest drop in rates is the eighth in as many weeks. The average rate is now back to where it was in late June.
“The 30-year fixed-rate mortgage remained below 7% for the second week in a row, a welcome downward trend after 17 consecutive weeks above 7%,” said Sam Khater, Freddie Mac’s chief economist.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loan, also declined this week, with the average rate falling to 5.95% from 6.38% last week. A year ago, it averaged 5.69%, Freddie Mac said.
Mortgage rates have been eas ...

  beach road realty, richard eimers, eimers group, mortgage rates, housing market, home sales, economic trends, real estate forecast, property market insights, mortgage rate trends, homebuying tips

Thursday, September 21, 2023   /   by Richard Eimers

Fannie Forecast: Mild Recession the Likeliest Outcome

With a nod to the economy having “mixed signals,” Fannie Mae’s 3Q forecast calls for a “modest contraction” and mortgage rates “settling above 7%.”

WASHINGTON – The key question for economists: Is the U.S. headed toward a soft landing or a mild recession?
According to September 2023 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group, it’s a modest contraction.
“Mixed signals from key economic data releases continue to muddle the near-term outlook and the answer to that question, but a modest contraction remains the most likely outcome as consumption continues to outpace incomes and previous monetary policy tightening works its way through the system,” the report says.
The housing market faces renewed headwinds with mortgage rates settling above 7%, according to the ESR Group. Still, the downside risk to total home sales is limited as more sales are being driven by life events rather than d ...

  beach road realty, eimers group, richard eimers, fannie mae, 3q forecast, modest contraction, mortgage rates, economy, economic signals, recession, economic data, housing market, home sales, monetary policy, homebuilder rate buydowns, economic trends, real estate news, us economy, economic outlook, economic analysis, florida realtors

Beach Road Realty Inc
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798

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