Downtown Miami’s residential real estate market is making a full recovery as area neighborhoods continue to see rapid development, according to a report from the Miami Downtown Development Authority (Miami DDA).

At the same time, the average 30-year fixed-rate mortgage rose to 3.33%, its highest level since April 2021, the Mortgage Bankers Association said.

Inflation concerns are influencing plans for homebuyers and sellers, according to a recent Redfin survey.

Retired baseball star Alex Rodriguez recently sold his Miami home for $6.3 million, according to a report by Realtor.com.

Nationally, housing prices were also on the rise, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. 

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.

“There was less pending home sales action this time around, which I would ascribe to low housing supply, but also to buyers being hesitant about home prices,” National Association of REALTORS® chief economist Lawrence Yun said.

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. 

As vacant land disappears and more out-of-state homebuyers flock to South Florida, the region’s aging beachfront high-rise condominiums are a gold mine for local developers who are looking for redevelopment opportunities.

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 local stories which most interested our South Florida readers in 2021.

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

The median sales price of new homes hit a new high of $416,900.

Homebuyers’ interest in moving to a new metro area remains elevated above pre-pandemic levels as remote work becomes the new normal. In November, Miami was the most popular relocation destination of any major U.S. metro for the fourth straight month, according to a new report from Redfin.