Current Market Data

New-home sales plunge 12.6% in July 

The median price of a new home sold during the month was up 5.9%, however, according to figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

RE/MAX: Miami median-sales price slides as inventory jumps 

Nationally, the median sales price slid 2.9% from June but rose 8.1% from July 2021, while closed transactions were down 16.6% on a monthly basis and 26.3% on a yearly one, RE/MAX said in its National Housing Report.

Median sale price of Broward County single-family homes hits record $600,000

Homes continued to sell quickly, a median of 13 days to contract, even as inventory increased.

NAR: Existing-home sales fall again in July, but could stabilize  

A recent decline in mortgage rates could return some purchasing power to buyers going forward, National Association of REALTORS® chief economist Lawrence Yun said. 

New-home construction falls 9.6% in July 

The pace of housing starts for both single-family and multifamily residences was down on a month over month basis, the U.S. Department of Housing and Urban Development reported. 

Homebuyer competition falls to lowest level since start of pandemic

In Miami, 37.6% of offers faced competition last month.

NAHB: U.S. in a “housing recession,” single-family starts will decline in 2022 

The NAHB/Wells Fargo Housing Market Index fell for the eighth straight month in August, as the key measure of builder confidence indicated a pessimistic outlook. 

Delray Beach ranked No. 2 city for Airbnb hosts to earn income from long-term renters

Delray Beach is the No. 2 city in the analysis for average host income in the first quarter of 2022.

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.

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