Transportation drives growth but transit growth also drives housing. Home values near a S. Fla. transit rail station are appreciating faster than those farther out. MIAMI – Home values for properties near South Florida’s expanding rapid transit rail system are appreciating faster than other homes in the region. The privately-owned rail service Brightline opened stations … Read more
FORT LAUDERDALE, Fla. – The 2022 hurricane season was a harsh teacher. Not because of the number of storms – it was a fairly average year – but because of the tricky nature of the two storms, Hurricanes Ian and Nicole, that hit Florida. The big lesson to learn from 2022? Experts say it’s to … Read more
Census Bureau: Orlando was No. 5 for growth in 2022, adding 65K new residents, but overall city growth was muted as the pandemic pushed people to rural areas. ORLANDO, Fla. (AP) – The flight from urban areas that took place during the first year of the pandemic either reversed or slowed in its second year, … Read more
The market slowed a bit nationally, but not in S. Fla., which is seeing slower, yet positive home value gains. About 2 out of 3 homeowners (65.3%) are “equity rich.” MIAMI – Homeowners across South Florida are seeing equity gains in their homes, despite the national housing market slowing down. About 65.3% of residential properties … Read more
Number of buyers looking within their metro dropped 15.6% in 1Q, but the number looking elsewhere fell only 4.2%. Fla. has 5 of top 10 want-to-move-to metros. SEATTLE – The pandemic-era trend of buyers relocating greater distances didn’t end with the pandemic. While Redfin says searches on its website were down overall in the first … Read more
Of the 20 cities included in the indices, 8 had price declines – but Fla. led the U.S. in price increases with No. 1 Miami (up 10.8% year-to-year) and No. 2 Tampa (7.7%). NEW YORK – S&P Dow Jones Indices (S&P DJI) February results on U.S. housing prices reported a 2.0% annual gain, down from … Read more
The area has a housing affordability problem in part because a limited amount of land for development continues to sell for higher amounts of money. FORT LAUDERDALE, Fla. – South Florida is seeing a stark drop in the number of new housing projects expected to be developed, as the region deals with an affordability crisis … Read more
SEATTLE – Roughly one of every seven (13.5%) U.S. homes sold by an investor in March sold for less than the investor bought it for, according to a new report from Redfin. That’s comparable with February’s 14.5% rate – the highest since 2016. It’s also nearly triple the share of a year earlier and compares … Read more
A study finds that several Fla. metros now “stand out for their extreme mismatches” between housing aid and asking rents, with Orlando the nation’s top “mismatch.” SEATTLE – During the first two years of the pandemic, the typical U.S. rent increased 18% while the value of housing vouchers rose only 7%. The vouchers also don’t … Read more
FORT LAUDERDALE, Fla. – After torrential rains hit South Florida, particularly in Broward County, many residents are dealing with flooded cars, boats and homes. And while the storm wasn’t a hurricane, many will be filing insurance claims for their soaked property. Fort Lauderdale was drenched with a record 25.91 inches of rain Wednesday – an … Read more
© 2024 Galleria International Realty
