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
Study: March asking rents fell 0.4% to $1,937 year-to-year, the lowest level in 13 months. But 4 Fla. cities in the study saw increases ranging from 0.7% to 3.9%. SEATTLE – The median U.S. asking rent fell 0.4% year-over-year to $1,937 in March – the first annual decline since March 2020 and the lowest median … Read more
Broadband in Fla.’s semi-rural areas could jumpstart home sales, notably for work-from-home buyers seeking affordability. To date, 64 areas are slated to be connected. TALLAHASSEE, Fla. – Governor Ron DeSantis announced a second round of awards through the Broadband Opportunity Program to expand broadband internet access to more of Florida’s underserved communities. In the latest … Read more
MIAMI – Six years ago, Tanjim Hossain and his wife, Christine Oliver, bought a single-story house on a corner lot dotted by palms in pedestrian-friendly North Miami. They had just sold their first house in Homestead and wanted to move to a more walkable neighborhood closer to their jobs. Since then, they welcomed their son … Read more
RE usually sees cycles between buyer’s and seller’s markets, but this time it’s a bit different. Supply vs. demand hasn’t changed because both sides pulled back. SEATTLE – New listings fell 21.8% year-to-year during the four weeks ending April 2, one of the biggest drops since the start of the pandemic, according to a Redfin … Read more
In Feb., the number of buyers searching listings outside their state dropped 3.6% year-to-year – but those looking locally fell 14.4%. 5 Fla. metros are top go-to spots. SEATTLE – The number of home searchers looking to relocate to a new metro fell 3.6% year-to-year in February, according to a report from Redfin – but … Read more
Nationally, it’s 45.5%, though slightly less in the two Fla. metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%). SEATTLE – Home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending Feb. 28, 2023, in a year-to-year comparison, according … Read more
The pandemic cut the number of foreign buyers traveling to the U.S., but the first wave is reappearing. A Miami condo has seen a 30% increase in Brazilian buyers. NEW YORK – Real estate insiders say they’ve seen a resurgence in foreign buyers to the U.S. market after the pandemic made them virtually nonexistent. Levels … Read more
The S&P CoreLogic Case-Shiller index showed a 5.8% annual gain in home prices for Dec., down from 7.6% through the 12-month period ending in Nov. NEW YORK – The prospects for a weakening U.S. economy and higher interest rates suggest that the average price increase for a home is likely to continue to slow after … Read more
MIAMI – Many prospective homebuyers sent a strong message at the start of 2023: They are done trying to buy homes in South Florida, as annual sales nosedived in January in Miami-Dade and Broward counties. For residents patiently waiting to buy a bigger house here or move to a different neighborhood for better quality of … Read more
© 2024 Galleria International Realty
