Current Market Data
The Tax Foundation’s 2022 State Business Tax Climate Index ranked Florida fourth on its list. Wyoming was No. 1 and New Jersey was last.
Despite the drop in demand, homes are selling faster than ever.
The data illustrates the struggle for first-time homebuyers trying to get a foot in the housing door in the country’s largest markets.
Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan applications.
Homes are selling at record-breaking speed.
Seventy percent of the 185 metros surveyed by the National Association of REALTORS® saw double-digit price gains in the first quarter, compared to 66% in the preceding period.
A four-year snapshot of South Florida’s average home and condo prices gives perspective to the real estate boom over that same time frame.
Overall mortgage-application volume was at its lowest level since 2018, the Mortgage Bankers Association said.
Within the 20-City Composite Home Price Index, Phoenix (32.9%), Tampa (32.6%) and Miami (29.7%) showed the biggest annual percentage growth.
Low inventory and rising interest rates have reduced prospective homebuyer purchasing power.