RE usually sees cycles between buyer’s and seller’s markets, but this time it’s a bit different. Supply vs. demand hasn’t changed because both sides pulled back. SEATTLE – New listings fell 21.8% year-to-year during the four weeks ending April 2, one of the biggest drops since the start of the pandemic, according to a Redfin … Read more
In Feb., the number of buyers searching listings outside their state dropped 3.6% year-to-year – but those looking locally fell 14.4%. 5 Fla. metros are top go-to spots. SEATTLE – The number of home searchers looking to relocate to a new metro fell 3.6% year-to-year in February, according to a report from Redfin – but … Read more
Nationally, it’s 45.5%, though slightly less in the two Fla. metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%). SEATTLE – Home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending Feb. 28, 2023, in a year-to-year comparison, according … Read more
The pandemic cut the number of foreign buyers traveling to the U.S., but the first wave is reappearing. A Miami condo has seen a 30% increase in Brazilian buyers. NEW YORK – Real estate insiders say they’ve seen a resurgence in foreign buyers to the U.S. market after the pandemic made them virtually nonexistent. Levels … Read more
The S&P CoreLogic Case-Shiller index showed a 5.8% annual gain in home prices for Dec., down from 7.6% through the 12-month period ending in Nov. NEW YORK – The prospects for a weakening U.S. economy and higher interest rates suggest that the average price increase for a home is likely to continue to slow after … Read more
MIAMI – Many prospective homebuyers sent a strong message at the start of 2023: They are done trying to buy homes in South Florida, as annual sales nosedived in January in Miami-Dade and Broward counties. For residents patiently waiting to buy a bigger house here or move to a different neighborhood for better quality of … Read more
Developer Stephen Ross says New Yorkers are moving to Fla. for jobs, not just retirement, due to tax issues, security concerns and Fla.’s “ease of living.” NEW YORK – Billionaire Stephen Ross, founder of the firm that developed Manhattan’s Hudson Yards, is pushing deeper into South Florida in a bet that wealth will continue migrating … Read more
Residents expect HOAs to enforce rules and often empower them to fine and suspend homeowners. But laws and rules keep HOAs from being all-powerful. MIAMI – Community associations’ abilities to fine and suspend unit owners who refuse to comply with their rules and restrictions are essential for the viability of the home/condo-owner association model for … Read more
31% of U.S. Dec. sales were for cash, though Fla. percentages ran as high as 52% in West Palm Beach. VA and FHA loans also rose in most Fla. metro areas studied. SEATTLE – Roughly one-third (31.2%) of U.S. home purchases were cash sales in December, according to a report from Redfin. That’s up from … Read more
In Fla., though, rents outpaced the national average. Jacksonville saw the highest year-to-year change with a 7.5% increase, and a low of 3.5% in Miami and Tampa. SEATTLE – The median U.S. asking rent rose 2.4% year-over-year to $1,942 in January – the smallest increase since May 2021, and the lowest level in nearly a … Read more
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