Category: Market Reports
NAR Publishes August 2021 Existing Home Sales Report
Sales Adjust 2% Downwards Nationwide, But Southern Region Still Making Up 43% of Sales. Each month, the National Association of REALTORS® publishes its monthly Existing Home Sales report. This general report offers statistics on the overall number of sales for the month of August 2021 for existing homes (new construction homes not included). In August... Read More
Rental Inventory in Miami-Dade County Is At The Lowest In History
Demand For Rentals Is Being Fueled By An Historic Housing Market. Since May of 2020, the housing market has been incredibly active with record sales happening practically on a daily basis. The initial frenzy of buyer demand was focused primarily on the single-family home market. As competition in that sector grew, weary buyers turned their... Read More
Pending Sales Rise In August 2021 for Miami-Dade, Broward & Palm Beach Counties
Is The Summer Slowdown Over? 2020 and 2021 have been anomalies in the South Florida real estate industry. Contrary to what one might think, real estate actually has a season. Typically, the first part of the year from about January 15th to the beginning of June is what we refer to as Prime Selling Season.... Read More
National Association of REALTORS® Reports Rise In Existing Home Sales For July 2021
Each month, the National Association of REALTORS® publishes their analysis on existing home sales for the preceding month. On August 25th, the Summary of July 2021 Existing Home Sales Statistics was made available to the public. Here are some key highlights from the report: Existing Home Sales Are Up 2% From June 2021 The sale... Read More
South Florida Rentals: Prices Are Rising
By Far The Most Popular Housing Source, Rentals Are Now In Short Supply. This Is Leading To Price Increases. While most real estate headlines over these past fifteen months have focused on reports of plunging inventories of residential properties for sale and surging numbers of sold properties, South Florida’s rental offerings have also been registering... Read More
Are We Turning The Corner on Housing Inventory?
By their very nature, real estate markets are cyclical—and South Florida’s real estate market is no different. In a normal market, buyers and sellers are feverishly engaging in the purchase and sale of property from about mid-January to the beginning of June. July and August generally provide a welcomed respite, slowly giving way to the... Read More
Insight Q2 2021: South Florida Condos Are Making An Epic Comeback
After Years of Excess Inventory, The Condo Market Is Now A Sellers’ Market The number one buyer of condominiums in South Florida has traditionally been the international vacation homeowner or investor, particularly in the $1 million+ market. With international travel slowing to a trickle over the past 18 months due to the pandemic, one would... Read More
Insight Q2 2021: Florida’s Future
What Lies Ahead For The Sunshine State Could Not Be More Bright. Florida has the ideal mix of variables as a destination. Beyond our wonderful weather, which has been a magnet drawing newcomers to our shores for over 100 years, South Florida now enjoys a fully developed community of not only great weather, but also... Read More
Insight Q2 2021: Low Interest Rates Are Still Driving Buyer Demand
According to the Research Department of the Federal Reserve Bank of St. Louis, the interest rate for a 30-year fixed-rate mortgage at the end of June 2021 was 3.02%. To put that in perspective, in January, 1995 the rate was 9.22% — three times what it is today. Mortgage rates continue at generationally low levels,... Read More
Insight Q2 2021: Single-Family Homes In South Florida Are Still A Key Focus
Suburban Areas Continue To See An Epic Increase In Home Sales While there are clear signs of renewed life in New York City’s residential real estate market, the Connecticut suburbs continue to be wildly popular — with a continued migration out of heavily populated urban centers in New York City, Boston and beyond. Even as... Read More