Manhattan home sales jumped to the highest level in more than two years as affluent buyers armed with cash forged ahead on deals https://t.co/pHprNpdUQj ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A frustrated homebuyer has shared a warning for others in the market after losing out on a home purchase due to what they call a shady seller tactic: pretending to sell a home while “hiding overdue mortgage payments and then backing out on closing day.” Nowhere Else To Go? The Reddit user detailed the ordeal in a recent post. They were first-time buyers with an all-cash offer on a 1990s single-family home ...

Core Insights - Australian home prices increased by 0.8% in September, reaching a record median value of A$857,280 ($565,462), marking the strongest monthly gain since October of the previous year [1] - The quarterly increase in home prices was 2.2%, compared to a 1.5% rise in the second quarter [1] Market Trends - The monthly price gain was broad-based, with Brisbane experiencing a 1.2% increase and Perth seeing a 1.6% surge, while Sydney rose by 0.8% and Melbourne lagged at 0.5% [2] - The spring selling season is anticipated to be strong, driven by low stock levels and high buyer demand, which are expected to further lift prices through spring and into the end of the year [2] Economic Factors - The Reserve Bank of Australia maintained interest rates at 3.60% but has cut rates three times this year as inflation slowed [3] - A new policy from the Labor government allowing first home buyers to enter the market with just a 5% deposit is expected to increase demand [3] Rental Market - The rental market is tightening, with national vacancy rates at a record low and rents rising by 0.5% in September, leading to a quarterly gain of 1.4%, the highest since June of the previous year [4]

Core Insights - BOXABL Inc. is preparing for a potential merger with FG Merger II Corp., a SPAC, which is expected to facilitate BOXABL's transition to a publicly traded company under the ticker symbol "BXBL" on Nasdaq [1][3]. Company Overview - BOXABL is focused on innovative housing solutions, particularly through modular building systems that aim to provide affordable and high-quality homes rapidly. The flagship product, the Casita, is a 361 square foot studio unit that can be set up in less than an hour [4]. - The company also plans to introduce the Baby Box, a smaller 120 square foot unit designed for simpler setups, and is developing stackable models for larger housing solutions [4]. Merger Process - A video message from co-CEO Paolo Tiramani outlines the merger process, addressing shareholder concerns, the choice of SPAC over a traditional IPO, and the implications for share ownership and transferability [2]. - The filing of the S-4 registration statement with the SEC is a significant step in the merger process, which includes a joint proxy statement and prospectus for shareholders [3][7]. Strategic Timing and Expectations - The video discusses the strategic timing of going public and what shareholders can expect in the coming months, including key filings and the transaction timeline [2]. - The merger is positioned as a means to enhance BOXABL's market presence and operational capabilities in the housing sector [1][4].

Core Insights - The housing market is experiencing a significant shift, with sellers increasingly cutting prices or offering incentives to attract buyers [2][3] - Existing-home sales have reached their lowest level since 1995, indicating a sluggish market [2][3] - Buyers are now in a stronger position to negotiate better prices due to increased inventory and easing mortgage rates [3][4] Group 1: Market Conditions - Home sellers are facing challenges, as evidenced by Doug McCormick's experience of listing his home for $1.3 million without receiving any offers after two months [1] - The National Association of REALTORS® (NAR) reported a 0.7% decline in existing-home sales last year, totaling 4.06 million, marking the lowest level since 1995 [2][3] - Homes are remaining on the market longer, leading to more frequent price cuts and giving buyers more leverage in negotiations [2] Group 2: Buyer Opportunities - Current inventory levels are the highest since May 2020, providing homebuyers with more options [3] - The average 30-year fixed mortgage rate has recently decreased to 6.50%, down from 6.56% in early September, enhancing buyers' purchasing power [3][5] - First-time homebuyers are gaining leverage in the market, allowing them to negotiate terms that fit their budgets [4]

Core Insights - Homeowners who locked in low mortgage rates during the pandemic are now feeling financially trapped as current rates exceed 6% [1][2] - Many homeowners express a reluctance to sell or upgrade due to the attractive rates they secured, viewing them as "golden handcuffs" [2][3] Group 1: Homeowner Sentiment - The Reddit community r/MiddleClassFinance shared personal stories highlighting the emotional and financial attachment to low mortgage rates, with some homeowners stating they would never sell their homes [2] - Homeowners with rates as low as 2.5% to 3.5% express satisfaction with their current living situations, indicating a preference to remain in their homes rather than face higher rates [2][3] Group 2: Reasons for Moving - Some homeowners have moved for reasons beyond financial considerations, such as better school districts and family support, despite facing significantly higher interest rates [3] - Decisions to relocate are often driven by lifestyle changes rather than purely financial calculations, with some families prioritizing happiness and well-being over cost [3]

Core Insights - The current housing market in Nashville is experiencing a decline, with home values averaging $436,951, which is 1.4% lower than the previous year [4] - Nashville has seen the steepest decline in sales activity among metro areas, with homes sitting on the market for a median of 52 days, 20 days longer than the previous year [2] - Renting out a home may be a viable option for homeowners who cannot sell, especially if rental income can cover ownership costs [7][9] Market Conditions - Nashville's housing market is not favorable for sellers, leading to potential lower sale prices [6] - The average rent in Nashville is reported at $2,250 per month, which could help cover mortgage and other ownership costs if the property is rented out [7] - The Federal Reserve's recent interest rate cut may increase buyer demand, potentially improving the selling conditions in the future [8][9] Selling vs. Renting - Homeowners have two primary options: selling or renting their property, with selling being more appealing in a strong market [4] - If a homeowner has already reduced their asking price significantly, further reductions may be necessary to facilitate a sale [12] - Renting out the property can provide a temporary solution, allowing homeowners to wait for market conditions to improve [8][13] Costs and Risks - Homeowners must consider the costs associated with renting, including property management fees, which typically range from 8% to 12% of the monthly rental value [11] - There are risks involved in renting, such as potential damage from tenants and unknown repair costs, especially for older homes [9][10] - If selling leads to a short sale, it could negatively impact the homeowner's credit score [3][6]

Core Viewpoint - The company is experiencing favorable demand in the residential CEE segment, with a significant increase in consumer apartment sales and a positive market outlook for the segment [2]. Group 1: Market Update - The residential CEE segment saw consumer apartment sales increase by over 40% compared to the previous year in the first half of 2025 [2]. - The company has upgraded its market view for the residential CEE segment in line with the half-year results [2]. - New project launches in the residential CEE segment are a key focus, with projects valued at nearly EUR 400 million launched by the end of June [2].

Core Insights - Sales of previously owned U.S. homes increased solidly in August due to lower mortgage rates attracting buyers back into the market [1][2] - Pending home sales rebounded by 4.0% in August, surpassing economists' expectations of a 0.2% increase [1][2] - The annual increase in pending home sales was 3.8% compared to the previous year [2] Mortgage Rates and Economic Context - Lower mortgage rates are facilitating more homebuyers entering contracts, with the 30-year mortgage rate nearing an 11-month low [2][3] - The Federal Reserve cut its benchmark overnight interest rate by 25 basis points to the 4.00%-4.25% range, contributing to the decline in mortgage rates [2] - Despite the positive impact of lower mortgage rates, a weakening labor market may limit further gains in home sales, with job gains averaging only 29,000 per month over the last three months compared to 82,000 during the same period last year [3]

Core Insights - Mortgage rates have decreased, yet homebuying activity remains stagnant, with pending home sales declining for the first time in nearly three months, down about 1% year-over-year as of September 21 [1] - The average mortgage rate has fallen for nine consecutive weeks, reaching an 11-month low of 6.26%, but existing home sales dipped 0.2% in August from the previous month, indicating a stagnant housing market despite a 1.8% increase from a year ago [2] - Lower mortgage rates have led to a significant increase in refinancing applications, which surged 58% in the second week of September, while mortgage-purchase applications only rose by 3%, suggesting that lower borrowing costs are not effectively stimulating home purchases [3] Factors Affecting Housing Demand - Four main factors are impacting housing demand: elevated home prices, potential buyers waiting for mortgage rates to drop below 6%, limited new listings, and economic uncertainty [4] - Recent data indicates that top-tier 30-year fixed mortgage rates have increased slightly, reflecting rising Treasury yields and diminishing expectations for aggressive rate cuts from the Federal Reserve [5] - Job growth has not been robust, contributing to a negative outlook for the housing market, alongside lingering concerns about tariffs and recession fears [6] Buyer Sentiment - Buyer hesitation is prevalent due to concerns over job security, stock market performance, and overall economic conditions, leading many buyers to make offers with contingencies and a willingness to withdraw if their demands are not met [7]