Trends

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Mortgage applications decreased last week while purchase applications shoot up

Mortgage applications declined by 2% week over week during the week ending in March 21, according to Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.

Pending home sales post surprise gain in February but remain sluggish 

The National Association of REALTORS’® Pending Home Sales Index rose 2% month over month in February, topping an expected 0.9% gain. 

Over 90% of first-time sellers are driven by pandemic buying mistakes

Young homeowners are the most likely to regret their home purchases: 94% of Gen Z and 86% of Millennial sellers acknowledged buying mistakes, compared to 48% of baby boomers.

2025 design trends in the Best in American Living Awards

Traditional charm, modern simplicity and an intentional combination of the two are on-trend for 2025 based on the big winners of the just-released 2024 Best in American Living Awards.

Miami home sales slide year over year in February 

Nationally, home sales were down 2.6% year over year and up 8.4% month over month, RE/MAX said. 

NAR: Existing-home sales rise in February; market ‘flashing encouraging signs’ 

The median existing-home price was also on the upswing last month, providing homeowners a bit of refuge as the stock market undergoes a correction, Chief Economist Lawrence Yun said in the monthly report. 

Housing starts post surprisingly big jump in February 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

When’s the best time to sell a home in Miami?

If you have a would-be seller close to getting ready to put their home on the market, now’s the time to prepare.

CoreLogic: Home-price growth slows in January, with further deceleration possible in Florida

Falling consumer sentiment suggests potential homebuyers are wary of the short-term economic outlook and future inflation, CoreLogic Chief Economist Selma Hepp said. 

Homeowners would rather lose money than sell to their ex

Furthermore, 13% of homeowners said they’d take their home off the market if they learned their ex was considering buying it.

New-home sales post unexpectedly large decline in January 

At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.   

Case-Shiller: Home prices hit all-time high for the 19th month in a row in December 

In Miami, home prices rose 3.28% year over year and 0.4% month over month in December. 

NAHB: Tariff worries help send builder confidence to five-month low 

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

CoreLogic: U.S. home prices rose 3.4% in November 

On a city basis, Chicago posted the highest annual increase among the country’s 20 largest metros, followed by Miami, Las Vegas and Washington, D.C. 

Miami is one of the most expensive cities for single-family rentals

Miami is one of the most expensive cities for single-family rents in the nation, according to a new report.

Home prices rose in all major cities in 2024, including Miami

For the first time in two years, home prices are on the rise in every major metro and Miami is one of them, according to a new Redfin report. 

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