Live South Florida Realty, Inc.: Florida real estate: servicing Palm Beach, Broward, Dade, Martin, St. Lucie, Sarasota, & Manatee counties.
South Florida
Joined April 2012
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Live South Florida Realty, Inc. retweeted
Today we got the lowest mortgage rate reading since Feb. 1, 2024
The average 30-year fixed mortgage rate falls to 6.82% heading into the weekend
Spread: 262 bps
Range this year: 6.63% <---> 7.52%
Live South Florida Realty, Inc. retweeted
Yearly average rate changes for homeowners insurance in each U.S. state
Chart via @ResidentialClub
resiclubanalytics.com/p/26-s…
Live South Florida Realty, Inc. retweeted
Certain metro areas stand out for their increased construction activity, producing more housing than their historical averages. This trend can be attributed to various factors such as economic growth, population influx, and urban development initiatives.
nar.realtor/blogs/economists…
Live South Florida Realty, Inc. retweeted
Peak buying season
Timing: April through June
Average number of existing homes sold per day: 16,530
Average number of new homes sold per day: 2,000
Median days on the market: 33 days
nar.realtor/blogs/economists…
Live South Florida Realty, Inc. retweeted
“Inventory will grow steadily from more home construction, and various life-changing events will require people to trade up, trade down, or move to another location,” said Lawrence Yun. #NARPHS
finance.yahoo.com/news/pendi…
Live South Florida Realty, Inc. retweeted
Commercial real estate foreclosures up 117% over the past year
California, which accounts for 12% of the nation’s population, was home to 30% of all commercial foreclosures in March 2024
@MalasMeghan latest for @ResidentialClub
resiclubanalytics.com/p/comm…
Live South Florida Realty, Inc. retweeted
Home Payment as % of Median Income, by State:
1. Hawaii: 68%
2. California: 67%
3. Montana: 57%
4. Oregon: 55%
5. Washington: 54%
6. Massachusetts: 53%
7. Idaho: 52%
8. New York: 51%
9. New Jersey: 50%
10. Vermont: 50%
11. Maine: 50%
12. Colorado: 49%
13. Florida: 49%
14. Rhode Island: 49%
15. Arizona: 48%
We now have 23 states where residents are paying at least 40% of their annual income on home payments.
On a post-tax basis, the median homebuyer is spending close to 70% of their income on home payments.
Buying a home has become a luxury.
Live South Florida Realty, Inc. retweeted
There's such a hunger to create a boogeyman in the housing market that we sometimes forget to check the scoreboard.
Individual buyers have been whoopin up on investors since 2016. Do exceptions happen? Yes. But on net:
David is beating Goliath. Again and again and again.
Live South Florida Realty, Inc. retweeted
Nationally, Sentrilock home showings were down 4% year-over-year. Showings declined in three of the four regions of the U.S. spr.ly/6017PSSbH
Live South Florida Realty, Inc. retweeted
Bad news for RE agents and prospective homeowners.
About 7% of the decline in home listings is because home buyers who already own a home are choosing to rent out their current home rather than sell it.
Live South Florida Realty, Inc. retweeted
U.S. home prices, as measured by the Zillow Home Value Index, set a new all-time high in July.
But when you dig deeper, you'll find there's still a lot of red.
Why? The home price correction has packed a bigger punch at the top end of the market.
Live South Florida Realty, Inc. retweeted
BREAKING: Median cost to buy a house hits a new record of $2,748/mo, up a MASSIVE 90% since 2020.
In other words, buying a house today costs nearly $33,000 per year.
This is 46% of the median PRE-TAX household income in the US.
Post-tax, homebuyers in the US are spending nearly 70% of their income on home payments.
Meanwhile, the median monthly apartment rent just hit a fresh record of $1,859/mo.
How has it become to difficult to have a place to live?
Live South Florida Realty, Inc. retweeted
Even though millennials are the largest adult generation in the U.S., they had a shrinking share of buyers in the market last year. Analysis by @JessicaLautz: spr.ly/6018Pjn8M
Live South Florida Realty, Inc. retweeted
#NEW Fannie Mae revises its home price outlook upward.
Fannie Mae expects U.S. home prices, as measured by Fannie Mae HPI, to rise 3.9% in 2023 followed by a -0.7% decline in 2024.
Live South Florida Realty, Inc. retweeted
Map: The 15 most at-risk & 15 least at-risk housing markets, according to Morningstar 👇
Most risk: Salt Lake City, San Francisco, Los Angeles, Honolulu, San Jose.
Least risk: Hartford, Syracuse, Allentown, New Haven, Harrisburg
fortune.com/2023/07/15/housi…
Live South Florida Realty, Inc. retweeted
The Airbnb collapse is real.
Revenues are down nearly 50% in cities like Phoenix and Austin.
Watch out for a wave of forced selling from Airbnb owners later this year in the areas hit hardest by the revenue collapse.
Live South Florida Realty, Inc. retweeted
Nationally, Sentrilock home showings in February 2023 were down 14% year-over-year, with declines in all regions of the U.S. spr.ly/60163hhrI
Live South Florida Realty, Inc. retweeted
For anyone that may be interested in supporting @vanessa_l_moore and the @bobcats_county Lady Bobcats... They should have a good squad if you are in South FL and would like to check them out...
raise.snap.app/fundraisers/b…