CRE News | Trending Topics | Market Studies
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
Under normal circumstances, rising interest rates should cool down the market, but housing demand remains so strong and there is so little land to build on in South Florida, that the market looks strong, experts say. CLICK ON THE HEADLINE FOR MORE
The pandemic propelled a mass migration of city dwellers to the suburbs, hungry to buy homes. And that surge in demand has driven new home prices up by 12 percent since March 2020. Great, right? Except construction costs have jumped as much as 30 percent in the same period. CLICK ON THE HEADLINE FOR MORE
FAU’s College of Business analyzed over 25 years of housing data and pricing trends through May from online real estate marketplace Zillow. The conclusion: South Florida homes were overpriced by 14.88% compared to historical levels. CLICK ON THE HEADLINE FOR MORE