Current Market Data

Why 157,000 Miami renters cannot buy homes

Earlier this week, we reported on the sobering findings of the Joint Center of Housing Studies’ latest report, which found that millions of households in America are struggling with housing costs, much to the detriment of housing markets across

Redfin announces new tool for agents

Redfin this week released its newest tool Opportunity Score, which will measure the number of jobs within a 30-minute, car-free commute from a particular address, giving agents yet another tool and credential to use in their listing presentations and sales

Florida to become $1 trillion economy – What does it mean for Miami agents?

By 2019, the size of Florida’s economy is projected to be nearly $1.1 trillion, according to a new projection from University of Central Florida economist Sean Snaith. Today, that would make Florida the world’s 16th largest economy, and that

Consumers say the market’s in crisis, Realtors stay positive. Who’s right?

The majority of Americans agree the nation is facing a serious housing affordability problem – but Realtors say they’re confident about the current real estate market, as well as how it will perform over the next six months. If

The 6 biggest challenges facing housing in 2016

From numerous vantage points, the U.S. housing market has improved considerably in recent years. Home prices are rising. The number of underwater homeowners has shrunk from 12.1 million in 2011 to 4.3 million today. Delinquency rates are down. And

Pending home sales reverse course, decline in May

After steadily increasing for three straight months, pending home sales let up in May and declined year-over-year for the first time in almost two years, according to the latest analysis from NAR. The Pending Home Sales Index slid 3.7

The Brexit factor: What it means for U.S. real estate

The United Kingdom became the first country ever to leave the European Union last week, and the decision is one to be felt the world over – including by the United State’s real estate market. In the immediate aftermath of

Miami home prices remain strong in new Case-Shiller Indices

The Miami area continued its strong home price growth in 2016, according to the latest Case-Shiller Home Price Indices. From March to April (the most recent month of available data), Miami home prices grew 1.1 percent, while year-over-year prices rose 6.4 percent;

Home prices are outpacing wages, and that’s a problem

Homeownership has become much less affordable for Miami consumers the last few years, according to a new analysis from RealtyTrac. The Q2 2016 Home Affordability Index, which compares wage growth to home price increases, found that without exception, home prices in

What goes into a new home’s price? Most consumers have no idea

There is a significant disconnect between consumers and homebuilders, according to a new analysis from the National Association of Home Builders. Comparing Census Bureau data with that of its most recent Home Buyer Preferences Survey, the NAHB found that

A professional’s perspective: Is Miami headed toward another condo glut?

The condo market in Miami has come a long way since the 2008 housing crisis. At that time, roughly 30,000 condos stood empty due to over-development and a crashing economy. Since then, the market has steadily improved and was

Why fewer foreign buyers is good for Miami

Miami is hemorrhaging foreign buyers, and it begs the question – will the market survive? In 2015, South Florida was a preeminent hub for international buyers. In the Miami Herald’s second annual Miami-Dade County Real Estate Study, real estate

Being an international agent: 9 things to know about Colombians

The international market is a valuable one for real estate agents, but only if they’re able to capture it. Just as Americans have particular customs so ingrained they’re almost considered common sense – such as shaking hands during a first meeting – foreign

7 incredible stats on how student debt is harming the housing market

Student debt continues to be a major problem for the housing market, according to a detailed new survey from the National Association of Realtors and SALT, the consumer literacy program. The survey, which sampled thousands of non-homeowners currently repaying

Is Miami in a bubble? Professionals weigh in

Miami is overvalued; Miami is overbuilt; Miami is in a bubble. Those are statements we have heard throughout the last 12 months, but definitive answers on what’s really happening in the Magic City’s real estate market are hard to come

How is Miami’s housing market? Depends on who you ask

The best word to describe the Miami real estate market may be “enigmatic,” as The Miami Herald’s second annual Miami-Dade County Real Estate Study demonstrated. In its study, conducted by Bendixen & Amandi, the Herald surveyed 100 professionals hailing from all

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