Current real estate market conditions have not discouraged buyers from their plans of homeownership, according to a new survey from RE/MAX.

The 30-year fixed-rate inched to 6.42%, which is still close to the lowest rate in a month, the group said. 

With 31, Miami has more music festivals than any other city in the analysis. The city also scored well for its number of film festivals and artists. 

A report from Realtor.com shows that many areas that experienced substantial growth during the pandemic are now posting some of the country’s steepest price reductions.

A report from Redfin shows that 29% of single-family homes for sale in the U.S. were new constructions in the third quarter of 2022.

Data from the PEW Trust shows that investment companies make up approximately a quarter of the entire single-family home market across the U.S.

October’s 4.6% monthly drop follows a 10.2% decline in September, the National Association of REALTORS® reported. 

The projected year-over-year change in home sale transactions in the Miami-Fort Lauderdale-West Palm Beach region is -2%.

Housing prices were down in all 20 cities tracked by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.   

The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000. 

The median existing-home price rose for the 128th month in a row, extending its record-breaking streak of increases. 

The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes. 

The largest single-week decline in conventional mortgage rates since July brought the first increase in home-loan applications since September, the Mortgage Bankers Association said. 

Miami, Phoenix, Atlanta and Tampa each saw double-digit consumer price index percentage growth year over year.

Downsizing from a four-bedroom home to a two-bedroom home in South Florida would save the typical homeowner more than $322,000.