Miami Beach

Falling U.S. Mortgage Rates Boost New Home Sales in December

According to new data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in December 2023 in the U.S. increased 8.0% to a 664,000 seasonally adjusted annual rate from an upwardly revised reading in November 2023.

Greater Miami Area Home Prices Jump 15 Percent Annually in 2023

Based on new data from the Miami Association of Realtors, greater Miami area single-family home sales increased 1.3% year-over-year in December 2023, from 744 to 754.

Greater Miami Area Residential Sales Dip 8 Percent Annually in November

Based on new data by the Miami Association of Realtors, total Miami-Dade residential sales decreased 7.8% in November 2023, from 1,791 to 1,651, due to elevated mortgage rates and low inventory in key price points.

U.S. Home Prices Cooling Faster Than Normal in November

Based on the latest Zillow market report for November 2023, monthly costs for a new mortgage are falling, inventory is trending back toward normal, and price cuts are uncharacteristically common.

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