News and articles
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As the coronavirus restrictions are lifted and remote work becomes permanent, many Americans move to places with a more tranquil and relaxed lifestyle and a nice climate, especially to Florida and the Northeast (Pennsylvania and New Jersey). These are the regions with the highest competition in the tenants’ market, according to the data published...
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In June 2022, an opulent mansion on the huge 11-acre land plot on the Florida Panhandle was sold for $25 million – a record-setting high for a single-family home in this region. The buyer, Miramar Holding LLC, is expected to divide the purchase into several luxurious units, each with an access to the beach. There is precious little property left...
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The real estate market in the south of Florida has recently found new momentum. Many investors and people who wish to move to this sunny state for permanent residence are interested in purchasing and renting properties of various categories. Daniel Matz, Senior Managing Director at Newmark, identifies the following trends in this market: Influx...
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AM Best, an American credit rating agency, reports that hard times are ahead for Florida, despite new reforms in the real estate insurance industry. In May 2022, state lawmakers introduced two bills that include a broad range of reforms regarding housing insurance and condominium insurance in particular. These projects have two support...
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One of the key features of most Florida housing markets is a chronic shortage of free supply in the market. It led to an increase in sale prices and rental rates. Often, because of these proportions, many people simply lose any opportunity to afford a new home, especially with rising mortgage interest rates and rising inflation. However, state...
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The national residential real estate market and the Florida market remain strong. Almost all indicators prove that. However, the strength of the market is extremely unpredictable because the US economy is uncertain due to rising inflation, interest rates, and a considerable number of investment real estate projects have started experiencing...
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In general, in 2022, the Florida real estate market remains quite hot, even overheated. It is expected that it will remain at the same level throughout this year. This is the best-case scenario for sellers. Due to a small supply, housing demand is extremely high and continues to grow in the state. For buyers, on the contrary, the situation becomes...
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Between March 2021 and May 2022, real estate developers have already spent about $300 million to acquire land plots for development in Wynwood, Miami. They plan to build dozens of various projects. Many of these projects are already under active development. About 2,200 apartments and condominiums are expected to enter the local market. The number...
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The Florida Legislature has enacted a number of bills to address problems in the insurance market, including condominium insurance. The meeting was held in Tallahassee, the state capital. The goal was to deal with rising insurance expenditures and solve problems with condominium-type home insurance. Condominium insurance requires special attention...
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The Florida consumer confidence index declined in May 2022. Currently, it is slightly higher than in June 2008, at the heat of the "Great Recession" of the global financial and economic crisis. The index also shows that it is connected to the inflation rate. In total, the index consists of five indicators. Four of them have already declined. As...
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