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The Economic and Strategic Research Group at Fannie Mae predicts a gradual revival in single-family home sales in the coming year, aligned with an increase in mortgage origination activity due to lower mortgage rates. However, challenges such as affordability, the lock-in effect, and a shortage of available homes are expected to persist into 2024. The…
Heading into 2024, the market's trajectory in South Florida is mired in uncertainty, impacted by variable home inventory and economic factors.With mortgage rates at a 23-yr high, ~ 8%, they significantly shape market conditions and buyer behavior.
Florida's housing market saw a slight price increase in 2023, with median home listing prices above the national average. Predictions for 2024 indicate potential fluctuations in mortgage rates, prompting buyers and sellers to wait. Despite this, inventory needs to increase to meet demand. No housing market crash is expected in Florida in 2024. Decisions to…
Miami-Dade County is the hottest rental market in America in 2023, due to its booming tech industry and no income tax policy. Despite a 3.7% increase in housing supply, rental costs remain high with an average rent of $3,280. The high rental demand has led to a severe housing affordability issue, with homeowners allocating a…
Owning a home is a keystone of wealth… both financial affluence and emotional security.
