South Florida Home Sales Drop As Inventory Edges Higher

With South Florida home sales dropping, inventory may slightly improve.

What a difference just a few months makes in the housing market! It was only several months ago when spring home buyers were bidding up homes with hopes of winning the home ownership sweepstakes of paying well above listing prices. Fast forward a few months with record inflation and thus rapidly increasing mortgage rates and… Continue reading South Florida Home Sales Drop As Inventory Edges Higher

The Hotter The Real Estate Market The Higher The Inflation

The rate of inflation seems to track with migration patterns.

Inflation is currently at a four-decade high. Meanwhile, we have seen a consistent pattern of Americans permanently relocating to various Sun Belt metropolitan areas such as Miami, Tampa, Atlanta, & Phoenix. As it turns out with inflation, home prices are a “chicken-or-egg” event. In other words, they’re both a result of inflation and a cause… Continue reading The Hotter The Real Estate Market The Higher The Inflation

Foreclosures Are On The Rise (Back To Normal Levels)

Foreclosures are increasing back to normal levels.

For the past several years, foreclosure filings have been at historically low levels due to mortgage forbearance. For those that may not be aware of mortgage forbearance, this is when a mortgage lender allows a borrower to temporarily pay their mortgage at a lower payment or pause their payments altogether for a period of time.… Continue reading Foreclosures Are On The Rise (Back To Normal Levels)

South Florida Rental Prices To Remain High

South Florida rental prices have risen dramatically as demand also increases.

South Florida has always experienced a high level of in-bound migration from other states. However, since the beginning of the pandemic, we have seen a record level of Americans relocating to The Sunshine State. Although many of these transplants have been buying homes in paradise, many more have have decided to rent a home to… Continue reading South Florida Rental Prices To Remain High

Highland Beach Recent Home Sales

Recent Sales: Highland Beach

Here’s the latest update on real estate market sales trends for single family homes in Highland Beach, Florida… Five single family homes sold in the last 3 months in the Town of Highland Beach with sales prices ranging from $9.9m to $45m. Address Subdivision Sold Price Closing Date 2455 S Ocean Blvd Byrd Beach $45m… Continue reading Highland Beach Recent Home Sales

Housing Market Scorecard

Key year-over-year housing market indicators

According to a new report, the number of bidding wars for homes at the national level has dropped for the first time in six months. Not surprisingly, with home prices and mortgage rates both rising, more buyers are being priced out of the market. However, there is still plenty of competition in the market for… Continue reading Housing Market Scorecard

South Florida housing market snapshot

A year-over-year snapshot of the national and South Florida housing markets.

Analyzing the South Florida housing market, we continue to see strong home buyer demand with shrinking inventories. Although mortgage interest rates are predicted to increase over the year, global market instabilities may result in more gradual increases. Below, we show some of the market trends being seen nationally and locally. National trends 1 YEAR AGO… Continue reading South Florida housing market snapshot

South Florida ultra-luxury real estate sales more than doubled

South Florida ultra-luxury home sales on the rise.

Since the start of the pandemic, we have seen the demographics of South Florida home buyers vary considerably. This has led to various records being broken due to the amount of people now calling The Sunshine State their home. Looking back at 2021, we can now add ultra-luxury real estate market sales to the record… Continue reading South Florida ultra-luxury real estate sales more than doubled

A mixed bag for existing home sales

Home buyers remain persistent despite tight inventory.

The tight inventory of homes for sale has been a persistent challenge for some time now. With this said, it is not stopping buyers from searching for properties. According to the latest data from the National Association of Realtors®, existing home sales recorded a seasonally adjusted annual rate of 6.46 million in November. Although this… Continue reading A mixed bag for existing home sales