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Los Angeles Sued by Rental Property Owners Group Over Rent Increase Freeze

Los Angeles Sued by Rental Property Owners Group Over Rent Increase Freeze

by Phil Hall | Jul 24, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Apartment Association of Greater Los Angeles (AAGLA) has filed a lawsuit against the City of Los Angeles seeking to nullify and enjoin the city from enforcing a pandemic-era ordinance prohibiting rental housing providers from increasing rent. According to AAGLA,...
Hits and Misses for the Real Estate Week of July 17-21

Hits and Misses for the Real Estate Week of July 17-21

by Phil Hall | Jul 21, 2023 | Commercial Real Estate News, Hits and Misses, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A bizarre hunt for a movie superstar, a continued sense of builder optimism and a legendary crooner’s love letter to a once-great city. Looking into the wild and wooly world of real estate, here are our Hits and Misses for this week. Miss: Preying on Tom Cruise. One...
Lionel Messi Goes Home Shopping in Palm Beach County

Lionel Messi Goes Home Shopping in Palm Beach County

by Phil Hall | Jul 21, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Florida’s newest sports superstar resident is looking for a place to call home. According to a report in the Palm Beach Post, Argentine soccer great Lionel Messi has been checking out real estate in southern Palm Beach County. Boca Raton-based luxury real estate agent...
Florida’s Housing Market Struggles with Declining Sales

Florida’s Housing Market Struggles with Declining Sales

by Phil Hall | Jul 21, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Florida’s housing market in June recorded 26,071 closed sales of existing single-family homes, down 7.9% year-over-year, while existing condo-townhouse sales totaled 10,494, down 11% over June 2022, according to data from Florida Realtors. The trade group also...
Serious Delinquency Rate Crashes to 17-Year Low

Serious Delinquency Rate Crashes to 17-Year Low

by Phil Hall | Jul 21, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The number of serious delinquencies – defined as loans 90 days or more past due – dropped to 471,000 in June, the lowest since August 2006, according to new data from Black Knight Inc. (NYSE:BKI). June’s level is 177,000 loans lower (-27%) from one year earlier....
Year-Over-Year Applications for New Home Purchases Up for Fifth Straight Month

Year-Over-Year Applications for New Home Purchases Up for Fifth Straight Month

by Phil Hall | Jul 21, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage applications for new home purchases increased 26.1% year-over-year in June, according to the latest Mortgage Bankers Association (MBA) Builder Application Survey. Compared to May, applications were down by 5%. MBA estimated new single-family home sales were...
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