The National Association of Home Builders is reporting that while new U.S. home sales posted a modest gain in December 2022, elevated mortgage rates and higher construction costs continue to hinder housing affordability and put a damper on consumer demand.
According to the Miami Association of Realtors, Miami-Dade County's real estate market sold 31,627 total homes (or 86 transactions per day) in 2022. That's the second all-time sales rate in Miami-Dade County history, behind only the 39,394 homes sold in 2021.
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.13 percent as of January 26, 2023.
According to CoreLogic's latest monthly Loan Performance Insights Report for November 2022, 2.9% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.7 percentage point decrease compared to 3.6% in November 2021.
National property broker Redfin is reporting that a record one-quarter (24.6%) of Redfin.com users looked to move to a different metro area in the fourth quarter of 2022. That's up from 22.1% a year earlier and around 18% before the pandemic.