Move over millennials. This is the message received from the latest demographic survey conducted by the National Association of REALTORS® (NAR). For the first time in eight years, baby boomers once again make up the largest share of home buyers and sellers. This is quite a significant shift considering the percentage of the population that… Continue reading Baby Boomers And The Housing Market
Category: Market Update
Housing Markets With The Highest Price Increases
Did you know? According to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI), U.S. home prices rose 8.4% year-over-year between Q4 2021 and Q4 2022. Not surprisingly, the rate of price growth has been slowing down substantially over the recent quarters and months. For example, when comparing Q4 2022 to Q3 2022,… Continue reading Housing Markets With The Highest Price Increases
Pending Home Sales Report
After a historic run for the housing market for the latter part of 2020 and throughout 2021, we have seen a significant slowdown as of early 2022. Of course, with inflation hitting a 40-year high in early 2022, The Federal Reserve has intentionally risen rates thus impacting mortgage rates and the housing market. As a… Continue reading Pending Home Sales Report
Boca del Mar
Boca del Mar recent sales of single family homes for the most recent 6 months, as of Dec 23, 2022, range from $465,000 to $1,037,500. What’s currently for sale? Now that you know what has sold, here’s a list of what’s available for sale for single family homes located in Boca Del Mar… Where is… Continue reading Boca del Mar
Highland Beach Recent Home Sales
Here’s the latest update on real estate market sales trends for single family homes in Highland Beach, Florida… 5 single family homes sold in the last 6 months in the Town of Highland Beach with sales prices ranging from $4m to $9.575m. Now that you know what’s sold… here is what’s currently for sale in… Continue reading Highland Beach Recent Home Sales
The Outlook For Housing Market Potential
Fueled by historically low mortgage rates and a large segment of the workforce transitioning to a virtual working environment, 2021 marked the highest level for housing market potential since 2007. For perspective, the average 30-year fixed mortgage rate was 2.9% for 2021. As of September 2022, this average rate has pushed to 6.1% and has… Continue reading The Outlook For Housing Market Potential
U.S. Home Prices Were Up in Q2; Even Higher In Florida
More than half of U.S. home mortgages are backed by Fannie Mae and Freddie Mac. Therefore, periodically the Federal Housing Finance Agency releases their House Price Index (FHFA HPI). This index tracks 100 cities to monitor home prices and it is based on mortgages in these areas. Overall U.S. house prices rose 17.7% year-to-year in… Continue reading U.S. Home Prices Were Up in Q2; Even Higher In Florida
Median Home Sale Prices For Palm Beach & Broward
Although we have seen a significant slowdown in buyer activity throughout South Florida and across the country, home prices remain high. However, given the lower amount of buyer traffic for homes listed for sale now, we are also seeing a higher proportion of price reductions. Recently, we were able to analyze the latest home sale… Continue reading Median Home Sale Prices For Palm Beach & Broward
South Florida Home Sales Drop As Inventory Edges Higher
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
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