Seven Florida cities show signs of impending housing crisis due to high mortgage rates and vacancy. ....
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In August, sales of new U.S. homes hit a 5-month low due to sky-high mortgage rates, which have been near a 23-year high. This has strained prospective homebuyers' ability to afford a dwelling, leading to a decrease in sales. Homebuilders have been offering incentives to try and offset the impact of the elevated mortgage rates, but mortgage rates at current levels represent an affordability hurdle...
1. Record-high monthly mortgage payments: - Median monthly mortgage payment reached an all-time high of $2,632, ↑ 13.9% yearly. 2. Aggressive interest rate hikes: - The Fed's 11 rate hikes since March 2022 pushed mortgage rates to two-decade highs of 7.25%....
Sam Khater, chief economist for Freddie Mac, recently reported that interest rates for a 30-year mortgage had reached an average of 7.49%, the highest in a generation. This is causing a slowdown in the housing market, negatively impacting single-family home sales which were down 8% in August compared to last year. Khater attributes the spike to numerous factors including inflation, the job market, and...
Florida Housing offers assistance programs for first-time homebuyers, including down payment and closing cost help. Various programs offer aid to Florida first-time buyers, with income and purchase price limits to qualify....
Mid-Q3 shows exceptional home sales surge in SW Florida Real Estate market. Despite ↑ median prices, pending sales signal a potential future slowdown in the market. The appeal of gulf and favorable living conditions have attracted affluent buyers to the region....
Sam Khater, chief economist for Freddie Mac, recently reported that interest rates for a 30-year mortgage had reached an average of 7.49%, the highest in a generation. This is causing a slowdown in the housing market, negatively impacting single-family home sales which were down 8% in August compared to last year. Khater attributes the spike to numerous factors including inflation, the job market, and...
Florida's housing market in July showed improved inventory levels and median sales prices consistent yearly....
Data from Florida International University and Florida Atlantic University suggests rent rates may continue to grow in South Florida....
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