Thursday, July 21, 2022 / by Dave Magua
Sales of existing homes ticked down 5.4% between May and June, falling 14.2% from a year ago, as median prices rose to $416,000, according to the National Association of Realtors.
Existing home sales slid for the fifth straight month in June, according to data released Wednesday, marking the latest sign of significant cooling in the housing market.
Sales of existing homes ticked down 5.4 percent between May and June, and were down 14.2 percent from a year ago, according to data released Wednesday by the National Association of Realtors.
Meanwhile, the median price of an existing home climbed 13.4 percent from June 2021, hitting a new high of $416,000, and the inventory of unsold existing homes climbed to 1.26 million by the end of June, the equivalent of a 3 month supply at the current sales pace, an increase from the 2.6 month supply recorded in May — a sign more buyers are pulling back from the market, according to experts.
“Falling housing affordability continueE ...
Tuesday, March 8, 2022 / by Dave Magua
March 3, 2022
Spring may have sprung early in the housing market. The U.S. median list price set a record high of $392,000 in February, according to realtor.com®’s Monthly Housing Trends Report. Many markets continued to post double-digit annual price gains, led by Las Vegas, Miami, and Tampa, Fla., with annual increases of at least 31% each.
“Over the last five years, we have seen home prices break records early in the season as buyers try to get ahead of the competition,” says Danielle Hale, realtor.com®’s chief economist. “But this is the first time the record has been broken in February, signaling that competition is already heating up weeks before the start of the spring buying season in a typical year.”
The number of homes for sale remains at record lows. But home buyer demand remains high and home prices are surging as a result of competition for low housing inventories. Hale says a slight improvement has been made on ; ...
Saturday, January 15, 2022 / by Dave Magua
Tuesday, October 26, 2021 / by Dave Magua
Use the link below to The Luxury Report For South Florida, 3rd quarter 2021
Wednesday, August 25, 2021 / by Dave Magua
The real estate market isn't the only thing on fire in Boca Raton. A lot of new things are coming: The Boca Center for the Arts, The Brightline, and more!
Boca Raton Center for Arts & Innovation: Decades in the Making
The Edith & Martin Stein Family Foundation recently made a
seven-figure donation to The Boca Raton Arts District Exploratory Corporation (BRADEC). This pledge of $5M will help break the ground for the Boca Raton Center for Arts & Innovation. This center will be Boca Raton’s hub for all things tech, culture, and education. Upon the full raising of the capital and completion of the design, planning, permitting and pre-construction phases, construction will commence, with an estimated 24-28 month construction schedule.
The newly-improved amphitheater will be first finished, expected by 2025, with the full center slated to open in 2027.
Under Constr ...