Current Market Data
Purchases from home buyers in tax-burdened states, which began with the 2016 tax reform bill and has accelerated since COVID made remote working commonplace, continue to fuel Miami real estate”– Jennifer Wolman, Chairman of the Board, Miami Association of Realtors
The report stated that Florida dominated the top spots due largely to “affordable homes, low taxes and high ratings for happiness and desirability.”
For the first time since March 2020, home-price growth in urban areas surpassed that of suburban and rural locations.
“Despite the drop in home sales for February — which I would attribute to historically-low inventory — the market is still outperforming pre-pandemic levels.” NAR Chief Economist Lawrence Yun
The median sale price of a home in Miami was $377,500, a 0.7% increase month over month and an 18% increase over last year.
Eighty-eight percent of all homebuyers said they used an agent as a source of information during their search, and 91% of millennials age 22 to 30 said the same.
Bigger is better when it comes to houses on the market, according to a new report from Realtor.com.
Brokers remain optimistic despite low inventory of homes, the ongoing pandemic and iBuyers.
It is not “first comes love, then comes marriage,” but for many women, “first comes homeownership,” according to First American Chief Economist Odeta Kushi.
Nationally, homeowners with mortgages saw their home equity increase by 16.2% year-over-year from the fourth quarter of 2019.