Found 49 blog entries tagged as real estate.

Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for February 2023 Read on to learn more about the real estate market in South Palm Beach County:

In its continued effort to curb inflation, the Federal Reserve raised its benchmark interest rate in February by a quarter-percentage point to 4.50% - 4.75%, its 8th rate hike since March of last year, when the interest rate was nearly zero. Mortgage interest rates have dipped slightly from their peak last fall, leading pending sales to increase 8.1% month-to-month as of last measure, but affordability constraints continue to limit homebuyer activity overall, with existing-home sales declining for…

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for January 2023. Read on to learn more about the real estate market in South Palm Beach County:

The US housing market began the year in a state of rebalance, with many buyers and sellers remaining cautious while they wait to see where the market is headed. Nationally, pending sales rose 2.5% month-to-month, marking the first increase since May, while sales of existing homes fell 1.5% as of last measure, according to the National Association of Realtors® (NAR). Demand for housing persists, but higher mortgage interest rates have cut into housing affordability, with total home sales down…

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for December, as well as for the year end. Read on to learn more about the real estate market in South Palm Beach County:

2022 was a turbulent year for the US housing market, as inflation, soaring interest rates, and elevated sales prices combined to cause a slowdown nationwide. Affordability challenges continue to limit market activity, with pending home sales and existing-home sales down month-over-month and falling 37.8% and 35.4% year-over-year, respectively, according to the National Association of REALTORS® (NAR). Higher mortgage rates are also impacting prospective sellers, many of whom…

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for October 2022. Read on to learn more about the real estate market in South Palm Beach County:

Existing home sales declined nationwide for the eighth consecutive month, falling 1.5% as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24% from the same period last year. Pending home sales also declined, dropping 10.9% month-to-month, exceeding economists’ expectations. Stubbornly high inflation and soaring borrowing costs have eroded buyer purchasing power and have caused the market to cool rapidly this year. New Listings decreased 7.0 percent…

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for September. Read on to learn more about the real estate market in South Palm Beach County:

The U.S. real estate market continues to slow as we move into fall, as rising consumer prices and higher mortgage interest rates squeeze homebuyer budgets and cool activity. With inflation showing little sign of abating, the Federal Reserve implemented another 75-basis-point hike in September, marking the third such rate increase this year. The cost of borrowing has reached multi-year highs on everything from credit cards to auto loans in 2022 as mortgage interest rates topped 6% for the first time…

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for August 2022. Read on to learn more about the real estate market in South Palm Beach County:

Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year-over-year as of last measure, according to the National Association of REALTORS® (NAR). Pending home sales have also continued to decline, while new listings have steadily increased, with unsold inventory reaching 3.3 months’ supply at the start of August. The pullback in demand has been…

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for June.  Read on to learn more about the real estate market in South Palm Beach County:

Rising inflation, soaring home prices, and increased mortgage interest rates have combined to cause a slowdown in the U.S. housing market. To help quell inflation, which reached 8.6% as of last measure in May, the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest rate hike since 1994. Higher prices, coupled with 30-year fixed mortgage rates approaching 6%, have exacerbated affordability challenges and rapidly cooled demand, with home sales and…

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April Market StatisticsNewly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for April 2022.  Read on to learn more about the real estate market in South Palm Beach County:

The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant impact on refinance applications, which are down more than 70% compared to this time last year. As the rising costs of homeownership force many Americans to adjust their budgets, an increasing number of buyers are hoping to help offset the costs…

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Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for July 2021.  Read on to learn more about the real estate market in South Palm Beach County:

The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction. 

Local Market Summary

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graphic of market statistics for May 2021Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for May 2021. Although much of the change year over year is distorted by the slow real estate market during the height of the pandemic in May 2020, it is still interesting to see the state of our current local market. Read on to learn more about the real estate market in South Palm Beach County:

Demand Continues to Outpace Supply

As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide,…

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