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For example, you can send messaging to buyers versus sellers, recipients in specific zip codes, clients looking for high-rise condos, clients looking for single-family homes, families with school-age kids concerned about school zones, or first-time homebuyers. For buyers, you may want to link to newlistings that fit their must-haves.
In June, the typical starter home sold for a record $243,000, up 2.1% Newlistings of starter homes dropped 23% from a year earlier in June, the biggest drop since the start of the pandemic, the report found. Real estate investors are buying up a sizable chunk of today’s affordable homes. a year earlier.
JULY 2023 south florida housing report July Highlights Mortgage rates and limited inventory continue to be the driving factors behind today’s real estate market data – specifically sticking out when looking at home sales and newlistings which are both down across all counties and categories in South Florida.
october 2023 south florida housing report Broward County In October of 2023, Broward County single-family homes saw a decrease in closed sales, but increases in newlistings, pending sales, and average price. Condos/townhomes saw increases in average price and newlistings but decreases in pending and closed sales.
Homes are selling at such a feverish pace that active listings are plummeting across the board, further lowering our months of inventory available to buyers. Pair all of this with a national lumber shortage which is driving up the cost of materials for both builders and investors, we are seeing significant spikes in listing prices.
Specifically in South Florida, there is an increased demand for homes in the area with the prevalence of cash buyers, overseas buyers/investors, snowbirds, those looking for more favorable taxes, etc. Palm Beach County In June of 2023, Palm Beach single-family and condo/townhome closed sales and newlistings decreased.
Sales were down 25% in Austin, Texas compared to 2021, and values are likely to continue decreasing in 2023. Price drops are becoming more normal, and we can expect homevalues to decrease by 10-15% on average across major markets. Builders will continue to target first-time home buyers with incentives.
Among all home types in King, newlistings have fallen 26% in the past month and existing homes for sale at the start of November were down 8.1% Historically low interest rates brought buyers and investors out of the woodwork for any homes for sale. Pending sales and closings were also below October figures.
On the heels of the largest run up in homevalues in recorded history, we saw an abrupt and heavy shift that’s been challenging to grapple with for sellers and buyers. It was an inevitable end to arguably the greatest run-up in homevalues in history. Some markets were affected more than others.
In August, the median homevalue in the greater Austin metropolitan area was $496,000 and that’s up 5%. Newlistings are down 6%, so there are less homes coming onto the market than there were this time last year. Nationally active listings are up 26.9%. And housing prices are still up! “In
The past year witnessed a financial rollercoaster, with interest rates fluctuating between 5.99% and 8.03% for conventional 30-year mortgages, according to Mortgage News Daily. The Fed’s revised lending forecast sparked a celebratory mood among investors, particularly those tracking U.S. Treasurys and mortgage-backed securities.
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