Current Market Data

Mortgage rates fall to four-month low as buyers return to market

Homebuyers may catch a break this month as rates have come down nearly a point from the recent high on fears of a recession.

Coral Gables tops list of South Florida’s highest rent communities

Coral Gables has the sixth-highest average monthly rent in the country at $4,310.

Rental and homeowner vacancy rates still near historic lows, Census data shows

The national rental vacancy rate dropped to 5.6% in the second quarter of the year while the homeowner vacancy rate remained at 0.8%.

CoreLogic: Miami home-price increases top national average in June 

Home prices were up 25.3% in Miami on a year-over-year basis, compared to 18.3% nationwide, CoreLogic reported, citing its Home Price Index. 

After May bump, pending-home sales hit June dip 

“Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to date.” — National Association of Realtors chief economist Lawrence Yun  

S&P Corelogic Case-Shiller Index: Miami home prices rise 34% in May — second-highest rate in the nation

“Housing data for May 2022 continued strong, as price gains decelerated slightly from very high levels,” Craig J. Lazzara, managing director at S&P DJI, said.

June new-home sales drop 8.1% month over month

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

Single-family housing starts fall for fourth month in a row in June 

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

Housing prices begin to fall from June’s record-breaking peak

Inflation and high mortgage rates are impacting potential homebuyers which means fewer sales, more supply and a drop in home prices. 

Record share of homebuyers relocating to more affordable areas

A record number of homebuyers are relocating to more affordable areas as rising mortgage rates, high home prices, inflation and economic concerns are starting to make some areas of the country out of reach for buyers.

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