News
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As the number of new construction permits dropped to a historic low last month (the lowest since 2020), Don Peebles, Chair and Chief Executive Officer at Peebles Corporation, warns of a “double blow” to the market, making housing unaffordable for an average American. He also welcomes Florida’s initiative that tries to rectify this situation. He...
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According to recent data from the Orlando Regional Realtor ® Association, the total sales of homes dropped significantly in October – November 2022. This November, 1,996 transactions were made in the Orlando residential property market, which is 26.5% fewer than 2,716 deals in October. This is actually the worst monthly housing sales performance...
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The value of South Florida real estate continues to increase and many local residents are feeling the effects. According to a report published by the Miami Association of Realtors, prices of single-family houses and condominiums grew by 9 – 14% in November in Miami-Dade and Broward Counties, compared to the same month of 2021. The average cost of...
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The recent data on the South Florida real estate market is good news for potential buyers interested in local residences. Statistics show that sales of existing properties have been slowing down for ten consecutive months, which means that buyers stand a better chance of successful negotiations with sellers and purchasing the houses and apartments...
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Ron DeSantis, Florida Governor, convened a special meeting to solve property insurance problems and tackle reinsurance issues. Options under consideration include full or partial property tax relief for victims of Hurricane Ian. The meeting will become the second special session this year devoted to property insurance. This is a complicated matter...
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Many South Florida residents are facing challenges due to rent surges. Administrations of cities across the state offer assistance. Although the general rent hike started to slow down, it is still significantly higher than a year ago. The average rent in South Florida is $2,827, which is 16% greater than in 2021. Salaries cannot catch up with the...
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Walt Disney World’s intention to build a residential community originated in the company’s past. One of Walt Disney’s last ideas was the Experimental Prototype Community of Tomorrow (EPCOT) designed to develop the American business and urban living. Disney considered the creation of a mixed-use residential environment the most important task faced...
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Assumptions that the number of houses sold in Collier County in October will drop drastically after Hurricane Ian proved to be inaccurate, as closed and non-closed sales increased by 23.7% and 8.7% month-on-month respectively. Although 525 deals were canceled or outstanding, the total amount of real estate sold over the month surged by 72.7%, up to...
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Susan Rindley, South Florida Real Estate Agent and Expert, shared that buyers of upscale residences have been extremely careful over the past few months. But now that the US Senate elections are over, this segment is headed towards a new surge. Ms. Rindley specializes in waterfront estates and luxury condominiums in Palm Beach, Boca Raton, Fort...
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A new study shows that almost 25% of residential property buyers in the USA want to move from their current locations and many of them are considering Florida cities. The US housing market has cooled significantly in the second half of 2022, as high mortgage rates, inflation, and an economic downturn are scaring away potential buyers and sellers....
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