Miami
Real Estate News

U.S. Condo Prices Dip in June, Sales Down 31 Percent Annually from Coronavirus

U.S. Condo Prices Dip in June, Sales Down 31 Percent Annually from Coronavirus

Redfin is reporting this week that condo sale prices in the U.S. dropped 1.4% year over year to a median of $252,000 in June 2020. Read More »


The Calm Before the Coming Coronavirus Foreclosure Storm in U.S.

The Calm Before the Coming Coronavirus Foreclosure Storm in U.S.

Record low 165,530 U.S. foreclosure filing recorded in first half of 2020, as 13 million evictions loom later this year. Down 44 percent from the same time period a year ago. Read More »

Pending Home Sales Spike 16 Percent in June

Pending Home Sales Spike 16 Percent in June

Pending home sales continued to ascend in June, 2020 sustaining two consecutive months of increases in contract activity. Each of the four major regions experienced growth in month-over-month pending home sales. Read More »

Greater Miami Area Home, Condo Prices Rise 5 Percent Annually in June

Greater Miami Area Home, Condo Prices Rise 5 Percent Annually in June

Miami-Dade County median home prices increased year-over-year in June 2020 as home sales continued trending upward despite the global COVID-19 situation. Read More »


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Global Property Spotlight

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

In the heart of breathtaking Paradise Island adjacent to Nassau, Bahamas, a very rare residential opportunity will soon be available. Opportunities like this are extremely limited on this 685 acre island paradise. Read More »

Last Updated August 3, 2020 8:14 AM ET

Miami Property News

According to the National Association of Realtors, existing-home sales rebounded at a record pace in June 2020, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic.

The total number of U.S. loans now in forbearance decreased by 38 basis points from 8.18% of servicers' portfolio volume in the prior week to 7.80% as of July 12, 2020.

According to a new report by the U.S. Housing and Urban Development and Commerce Department, led by solid single-family production, total housing starts increased 17.3 percent in June 2020 to a seasonally adjusted annual rate of 1.19 million units.

According to Freddie Mac's latest Primary Mortgage Market Survey for Mid-July 2020, the 30-year fixed-rate mortgage in the U.S. averaged 2.98 percent, the lowest rate in the survey's history dating back to 1971.

Mortgage applications for new home purchases in the U.S. increased 54.1 percent compared from a year ago. Compared to May 2020, applications increased by 20 percent.

This represents a 2.5-percentage point increase in the overall delinquency rate compared to March 2020, when it was 3.6 percent.

A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.03 percent in the U.S., the lowest rate in the survey's history dating back to 1971.

According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending July 3, 2020, U.S. mortgage applications increased 2.2 percent from one week earlier.

15.9% of Black Americans who apply for mortgages are rejected nationwide, compared with just 7% of white Americans.

U.S. employers added a much-larger-than-expected 4.8 million workers to payrolls last month. The U.S. unemployment rate also fell to 11.1 percent.

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 26, U.S. mortgage applications decreased 1.8 percent from one week earlier.

The average annual price appreciation for all 150 cities tracked by the latest Global Residential Cities Index was 4.3 percent

The level of commercial/multifamily mortgage debt outstanding rose by $61.0 billion in the first quarter of 2020.

According to the National Association of Realtors, U.S. pending home sales mounted a record comeback in May 2020, seeing encouraging contract activity after two previous months of declines brought on by the coronavirus pandemic.

The total number of U.S. loans now in forbearance decreased by 1 basis point from 8.48% of servicers' portfolio volume in the prior week to 8.47% as of June 21, 2020.

Redfin is reporting that a record 27% of home searchers looked to move to another U.S. metro area in April and May 2020.

Florida's Realtors are reporting that the state's housing market continued to reflect the economic impact of the coronavirus pandemic in May 2020.


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