CRE News | Trending Topics | Market Studies
Florida’s population rose 1.9% between 2021 and 2022, topping all states for the first time since 1957, according to a report from the National Association of Realtors citing U.S. Census data. This growth is fueling higher home prices and rents. CLICK ON THE HEADLINE FOR MORE
Wealthier people tend to sweep into impacted communities, purchasing homes even at the increased purchase price following a hurricane according to a new study. The data showed home prices in hurricane-ravaged areas are 5% higher on average than unaffected ones, which attracts people who could afford them. CLICK ON THE HEADLINE FOR MORE
The rate of Florida’s population change has fluctuated over the decades, peaking in the 1950s, and tapering off into the 21st century. In 2022, Florida was the fastest-growing state in the U.S. CLICK ON THE HEADLINE FOR MORE
The lack of market competition and sellers dropping their prices are picking up pace. Meanwhile, home buying has never been more expensive. For the week ending June 16, 30-year mortgage rates rose to 5.78%—the highest level since November 2008, and the largest one-week increase since 1987. CLICK ON THE HEADLINE FOR MORE
Some economists have suggested that higher mortgage rates could create a “lock-in” effect, where homeowners are disinclined to sell their current home because it would mean buying a home at a higher interest rate. CLICK ON THE HEADLINE FOR MORE