According to the Miami Association of Realtors, greater Palm Beach County total home sales in October 2023 rose year-over-year as South Florida real estate continues to outperform the nation.
Based on new data from ATTOM, October continues to offer lower premiums for U.S. homebuyers, the single best day to buy a home is in January.
Miami single-family home sales decreased 1.5% year-over-year, from 884 in October 2022 to 871 in October 2023. Miami single-family home sales, which saw an increase in transactions the previous month, still has a lack of inventory in key price points as elevated mortgage rates have impacted buyers looking to finance.
According to the latest research from CBRE, the commercial real estate lending market is beginning to stabilize, with borrowing costs appearing to have peaked, even as transaction activity remains subdued.
Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.29 percent. This week's results include an adjustment for the observance of Thanksgiving.