Trends

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Single-family home construction slows for second month in a row as apartment starts jump 

“Builders are responding to higher mortgage rates and are chasing rising rents, with fewer homebuyers and more renters being forced to renew their leases.” — NAR Chief Economist Lawrence Yun 

NAHB: Builder confidence plunges in May on affordability concerns 

The release of the monthly survey from the National Association of Home Builders comes as the Biden Administration unveiled a housing-supply action plan that aims to boost the supply of affordable apartments and new homes. 

Florida ranked one of the best states in the country for taxes

The Tax Foundation’s ​​2022 State Business Tax Climate Index ranked Florida fourth on its list. Wyoming was No. 1 and New Jersey was last.

Fewer buyers doesn’t mean more available homes

Despite the drop in demand, homes are selling faster than ever.

Can $150,000 buy a home in Miami?

The data illustrates the struggle for first-time homebuyers trying to get a foot in the housing door in the country’s largest markets.

Mortgage applications rise for second week despite historically high rates 

Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan applications. 

Sellers drop prices as buyers continue to find little relief

Homes are selling at record-breaking speed.

Smaller markets lead the way in Q1 home-price gains; Miami sees 19.1% rise

Seventy percent of the 185 metros surveyed by the National Association of REALTORS® saw double-digit price gains in the first quarter, compared to 66% in the preceding period. 

Resilient Miami Condo Market Record Sales
Average South Florida home price has more than doubled since 2018

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.

Mortgage applications fall as rates hit 13-year high 

Overall mortgage-application volume was at its lowest level since 2018, the Mortgage Bankers Association said.

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