Current Market Data

Mortgage rates dip below 7%, bring relief to homebuyers

Buyers are finally getting some relief as mortgage rates dip below 7% for the first time in five weeks, according to a Redfin report. 

Housing starts rebound in April after March slump 

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Hotels overtake offices in residential conversions

According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.

Housing Scorecard: Home sales slide as inventory rises

Home sales in Miami-Dade, Broward and Palm Beach counties declined as inventory increased.

Miami ranks No. 1 for recent college grads 

Online English-learning platform Preply analyzed the 75 largest U.S. cities based on a variety of factors, and Miami took the top spot. 

Florida home values have more than doubled in the past decade 

Architecture Lab ranked every U.S. state based on the difference between average home values in 2013 and 2023; Florida ranked No. 2.

Monthly home payments set new record in March

Monthly home payments hit new records last month reaching an all-time high of $2,747, an 11% increase from last year.

Miami ranks No. 7 for college grads

Apartment Advisor analyzed 98 major cities in the United States based on cost of living, entertainment availability, mobility and overall opportunities for residents. Miami came in No. 7.

Renovation spending has jumped 60% since 2020

In 2020, median renovation spending was $15,000. That amount increased by 60% in three years, with the median home renovation costing $24,000 in 2023.

The best week to sell this year: April 14 – 20

Prospective sellers should prepare to jump on the market — the week of April 14 through 20 will be the best time to sell this year.

NAR: Existing-home sales post biggest gain in a year 

Sales rose 9.5% from January to a seasonally adjusted annual rate of 4.38 million.

Don’t paint your house these colors if you’re trying to sell

There’s a reason many homeowners opt for neutral shades when trying to sell their house — certain flashy colors may be off-putting to buyers.

Opendoor: A portrait of first-time homebuyers in 2023

Many buyers entered the housing market for the first time in 2023. But who were these first-timers, and what did their homebuying experience look like?

U.S. housing supply receives boost, marks first increase in eight months

With the spring market right around the corner, the U.S. housing supply finally got a boost. 

Today’s buyers prioritize price over location

Location, location, location … at least that’s how the old real estate adage goes, right?

NAR: Existing-home sales rise 3.1% in January 

The median existing-home price for all housing types was $379,100, up 5.1% from $360,800 a year before.       

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