Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 15, 2019

Start With A Win Podcast

Click Here to listen to the podcast "Start With A Win" hosted by RE/MAX CEO Adam Cantos.

Digital Marketing With Real Estate Agent Bri White

If you have ever wondered what you should be posting on, which social media

platforms and if clients really want to connect with a real estate agent online,

this episode of Start with a Win is for you!  Bri White of the RE/Max Edge in

Southeast Florida joins us to talk about the success she has found in upping her

social media game.

Posted in Market Updates
Jan. 18, 2019

Real Estate in the New Year: What to Expect

 

2018 Year in Review

2018 began with historically low interest rates at 4.04%, which shifted the market to a sellers advantage.  Once the market shifted it caused home prices to soar, leading to the highest home prices in over a decade.  As the year ended interest rates neared 5%, which lowered the buying power.  With less buying power there has been a small shift in the market, what does all of this mean for 2019?

south florida real estate forecast

 

Mortgage Rates Will Continue to Rise

Although mortgage rates rose steadily over the last two years it still remains lower than they did during the recession.  With this in mind the Fed intends to keep raising rates throughout the first quarter of 2019.  Studying the chart provided by themortgagereports.com, it is projected that mortgage rates will reach 5% by March of this year.  The continued rise in mortgage rates will continue to lower the buying power, which isn't exactly a bad thing.  As the buying power lowers it will result in a slowdown of sales which will also slow down the price momentum.  The steady rise in home prices made it difficult for first time home buyers to find a proper fit.  As the momentum slows it will give some of these buyers a chance to find a home that meets their budget.

First Quarter Mortgage Rates 2019

Who will Purchase Homes in 2019?

The main factors that will affect the housing market in 2019 will be rising interest rates and increased millennial demand.  The rising rates will make houses less affordable, and inherently price some buyers out of the market.  On the other hand the largest group of millennials will be turning 29 next year, which is considered to be the peak home-buying age.  This will lead to an increase in first time home buyers as millennials will make up the largest segment of the buyers in 2019.  According to Danielle Hale, chief economist for realtor.com millennials will account for 45% of mortgages, while Gen Xers make up 37% and Boomers will produce about 17% of the market.

There will be More Inventory in 2019.

The market has seen an increased number of houses being listed and an increase number of newly constructed homes.  This is met with high interest rates which inadvertently lowers the amount of homes being purchased.  This combination will result in a slight uptick in the amount of homes available.  Although there will be more homes available, the prices are expected to continue to rise throughout 2019.

The Grand Picture

  • Mortgage rates will continue to rise, can get as high as 5.9%
  • Home prices are projected to increase by 3%
  • Millennials will make up most of the buyers
  • An increase in the amount of first time home buyers
  • Buyers can expect to see an uptick in inventory
  • Slower price momentum will allow incomes to catch up to the market
  • A slowdown in sales will allow inventory to return to normal levels
Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates