Miami Real Estate News
Miami
Consumer 2022 Holiday Spending to Uptick 6.9 Percent in the U.S.
According to CBRE's annual Holiday Retail Trends Guide, U.S. retailers have applied lessons learned from the past two years of pandemic-influenced shopping patterns to position their stores and e-commerce operations for this year's holiday season.
Almost 55 Million People to Travel This Thanksgiving Holiday in America
Based on new AAA predictions, 54.6 million people will travel 50 miles or more from home this Thanksgiving holiday in America. That's a 1.5% increase over 2021 and 98% of pre-pandemic volumes. This year is projected to be the third busiest for Thanksgiving travel since AAA started tracking in 2000.
Pending Home Sales in U.S. Post Historic Drop in October
According to national property broker Redfin, pending U.S. home sales fell the most on record in October 2022, while deal cancellations and price cuts hit record highs.
Greater Miami Area Condo Sales Dive 35 Percent Annually in October
According to the Miami Association of Realtors, Miami-Dade County residential property sales transactions in October 2022 decreased 30.6% year-over-year, from 2,978 in October 2021 to 2,067 today, because of high mortgage rates, economic uncertainty and low inventory.
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