South Florida luxury property developer BH3 is now benefitting from one of the US housing market's most significant real estate trends in 2018 -- wealthy tax reform refugees from the northeast seeking residences in Florida's luxury home market.
South Florida's multifamily real estate transactions jumped 8.5 percent year-over-year in 1Q 2018 and per-unit multifamily prices increased in Miami-Dade, Broward and Palm Beach counties.
According to the Florida Association of Realtors, Florida's housing market reported slightly more new listings and higher median prices during the first quarter of 2018.
Preliminary property loss estimates in Florida from Hurricane Irma, total insured and uninsured loss for both residential and commercial properties, including damage from both flood and wind, is estimated to be between $42.5 billion and $65 billion.
The Baird/STR Hotel Stock Index decreased 0.8% in October 2016 to close the month at 3,108. Year to date, the index remains up 0.4%. Hotel stocks outperformed in October amid low investor expectations and rising interest rates.
According to the National Association of Realtors, U.S. pending home sales expanded in most of the country in July 2016, and reached their second highest reading in over a decade. Only the Midwest saw a dip in contract activity last month.
According to the National Association of Realtors, pending home sales in the U.S. were mostly unmoved in June. Increases in the Northeast and Midwest were offset by declines in the South and West.
Sales of newly built, single-family homes in the U.S. rose 3.5 percent in June 2016 from an upwardly revised May 2016 reading to a seasonally adjusted annual rate of 592,000 units.
According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 24, 2016, U.S. mortgage applications decreased 2.6 percent from one week earlier.
268,000 U.S. homeowners regained positive equity in Q1 2016, bringing the total number of mortgaged residential properties with equity at the end of Q1 2016 to approximately 46.7 million.
According to Irvine, Ca-based RealtyTrac's First Quarter 2016 U.S. Foreclosure Market Report, foreclosure activity in the U.S. was below pre-recession levels in 78 out of 216 U.S. metropolitan statistical areas (36 percent).
U.S. foreclosure inventory declined by 27.9 percent and completed foreclosures declined by 24.4 percent since July 2014.
254,000 U.S. properties regained equity in the first quarter of 2015, bringing the total number of mortgaged residential properties with equity at the end of Q1 2015.
The median sales price of U.S. single family homes and condos in November was $190,000, flat with the previous month but up 15 percent from a year.