News
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According to some economists and market experts, in South Florida, the sharp rise in housing prices recently registered might be costly, in the truest sense of the word, in the near future. Uncontrolled and excessively high rates of price growth force analysts to talk about the approach of some kind of "retribution" through market and price...
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In April and May, the internal migration of home buyers remained at a record level by historical standards. About 32.3% of the country's population was looking for opportunities to move to other states, counties, urban agglomerations, and municipalities. These volumes are similar to volumes with no growth recorded at the end of the first quarter...
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The FNMA (Fannie Mae), one of the largest mortgage agencies in the country, has released its expectations for the mortgage market in 2022. They suggest a decrease in the volume of granted mortgage loans to $2.6 trillion. Home sales will drop to 5,960,000 units throughout the country. This change to previous forecasts was made based on both rising...
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The Federal Reserve has put off any drastic action against inflation for long enough. When the problem became impossible to ignore, the main solution was the regular raising of key lending rate to reduce overall demand in the economy. Ultimately, however, the results show no tangible progress in keeping inflation rates down. On one hand, the...
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Currently, the real estate sector connected to the seasonal holiday home sales is not in the best condition. The sharp growth in demand during the pandemic has resulted in a drastic drop in the market supply and a high increase in property prices. After the pandemic, the sector was affected by economic problems, including rising inflation, new...
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Jerome Powell, Chair of the Board of Governors of the US Federal Reserve System, indicated that the stance of the Central Bank with regard to combating growing inflation by raising the key rate will be determined privately, from meeting to meeting, based on indicators for the past period. Jerome Powell made this statement on Wednesday, June 22,...
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High interest rates on mortgages have resulted in declining house prices as a large number of potential home buyers have decided to hold off on purchasing a home because of severely disadvantageous loan conditions. This trend is especially strong in "exhausted" markets, such as Northeast Florida, Phoenix, Tucson in Arizona, South Carolina, and...
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According to the Miami Association of Realtors and MLS (Multiple Listing Service), Miami-Dade County broke two important records in May 2022. First, the past month was the tenth recorded month with the biggest home sales in the county. Second, this May has also become the second largest month ever recorded in terms of the same rate. In the past...
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Over the last 18 months, the residential real estate market in Central Florida has seen a huge boom. Dozens of investors waged "bidding wars" among themselves, and many contracts went to those who were able to outbid opponents by as little as $1,000. Buyers did not care about property conditions, its location, or the price. They just bought...
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In May 2022, Palm Beach County showed a record rate of growth in home prices. This price rise is driven by high inflation. Even an increase in new supply does not help with the market cooling. In May, the median price for private homes was $615,000. It is 2% higher than a month earlier, in April, and 30% higher than in May 2021. At the same time,...
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