With global vaccinations rising and unstable political situations around the world, the luxury real estate market in South Florida — particularly Palm Beach County — is seeing an increase in foreign homebuyers.

Southwest Florida, Broward County, Palm Beach County and Miami-Dade County were among the top 50 most competitive rental markets in 2021, according to a year-end report from RentCafé.

Florida ranked No. 2 in the country for most residents gained between July 2020 and July 2021, according to recent U.S. Census Bureau data.

Fears of an economic fallout are causing long-term U.S. mortgage rates to fall as the newest COVID-19 strain reignites worry among Americans. 

Since the initial stay-at-home orders were sparked by COVID-19, home improvement and remodeling projects have become increasingly popular. On average, homeowners spend $2,995 per project, according to a report. 

The holiday season has done little to deter homebuyer demand as the number of real estate showings at new property listings is heating up across the country. New listings in 13 housing markets averaged double-digit showings in November, according to the latest data from ShowingTime.

Check out the national stories which most interested our South Florida readers during 2021.

Eviction filings are rising as millions of Americans are being forced from their homes months after lawmakers allowed the federally imposed eviction moratorium to expire. 

While the pandemic-induced great migration may be slowing, the demand for ultra-luxury residences in Miami from New York-based high-net-worth individuals remains strong.

The pandemic and work-from-home orders have changed where, when and why people buy homes. As a result, housing prices hit the highest median of all time in 2021, as the number of homes for sale fell to an all-time low and the demand for second homes surged, according to a new Redfin report. 

The National Association of REALTORS®  applauded President Joe Biden’s nomination of acting Federal Housing Finance Agency director Sandra Thompson to serve in a permanent capacity.. “Her talents and experience will benefit the enterprises, homeowners and home buyers and the mortgage-financing ecosystem,” NAR President Leslie Rouda Smith said in a press release.

The listing also shows Santa’s North Pole estate’s value has skyrocketed this year.

As part of an ongoing relationship with the Food Recovery Network (FRN), the National Association of Realtors provided roughly 3,475 meals to Americans in the past six months, according to a press release. 

Millennials are at the greatest risk of becoming house-rich and cash-poor as the generation is spending the highest percentage of their monthly income on homeownership costs compared to other generations, according to a new Hometap report.

While the real estate market is finally showing signs of cooling after a year of skyrocketing home prices and bidding wars, desirable metros across the U.S., including in Florida, Washington and Massachusetts, can expect a big year in 2022.

A movement sparked by the pandemic is causing Americans to pack up and relocate. As it turns out, Florida and Houston are top-ranking destinations for many people.