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
Category: Market Update
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
Palm Beach County Real Estate Market Update
Results are in for Palm Beach County Real Estate Market Update for June 2022 The most recent Palm Beach County Real Estate Market Update, prepared by Florida Realtors®, shows that the median sales price of homes continue to rise. The median sales price is 24% higher compared to last year for single family homes and… Continue reading Palm Beach County Real Estate Market Update
Foreclosures Are On The Rise (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 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
Housing Market Scorecard
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
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
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