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. 

Property taxes across the U.S rose last year, but the hike was much lower than in 2020, according to a new report.  ATTOM found in its 2021 property tax analysis of almost 87 million single-family homes, $328 billion in

The annual report uses 13 data sources and reader feedback to measure states on cost of living, quality of life, health care and other categories.

Transactions involving condos of $1 million or more grew by 31.2% in the first quarter of the year compared to the same period last year.

In Palm Beach County, the median single-family home price increased 23% year over year, from $440,000 in March 2021 to $541,000 in the same month this year.

Rising interest rates and home prices have taken a toll on would-be homebuyers’ purchasing power, leading to increased inventory and another monthly slowdown in sales. 

Single-family home starts declined compared to February, while new apartment construction was up, according to government statistics.