A shortage of existing inventory continues to drive buyers to new construction. 

Miami is among 18 of the 50 largest U.S. cities where it’s better to buy a home than rent one, according to a new analysis. 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Medley, with a population just over 1,000, has a median price per square foot of $154, a 65% difference compared to Miami.

Miami’s April average home value rose, while pending sales fell from March as new inventory was also down.

Homebuyers in their 40s and younger are still planning to buy homes, even though most believe the market favors homesellers.

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

The need for more space is common among all self-storage users: 40% of survey respondents listed this as their primary reason for renting storage space.

High demand drove multiple offers on about a third of pending sales, while 28% of homes sold above list price, the National Association of REALTORS® reported. 

The Keyes Company and Illustrated Properties’ latest Luxury Report details quarterly gains.

In Florida, 3.9 million of the state’s 8.6 million homes are in a homeowner association, with an average monthly fee of $389.

U.S. government data shows builders increased the pace of single-family home construction while slowing the pace of multifamily starts. 

The National Association of Home Builders/Wells Fargo Housing Market Index rose for the fourth month in a row in April as the construction industry remained “cautiously optimistic.”     

Is upsizing from a condominium to a detached home attainable in South Florida?