Housing Market Trends

Broward County Real Estate Trends April 2022

The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant impact on refinance applications, which are down more…

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Housing Market Trends

Broward County March 2022 Real Estate Trends

Nationally, existing home sales recently dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down, declining 4.1% as of last measure, according to the National Association of REALTORS®. Builders are working hard to ramp…

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Housing Market Trends

Broward County February 2022 Real Estate Trends

The U.S. real estate market remains hot ahead of the spring selling season, with existing home sales up 6.7% as of last measure, according to the National Association of REALTORS®. Experts attribute the growth in sales to an uptick in mortgage interest rates, as buyers rushed to lock down their…

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Housing Market Trends

Broward County December 2021 Real Estate Trends

The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached…

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Housing Market Trends

Broward County November 2021 Real Estate Trends

The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was…

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Housing Market Trends

Broward County October 2021 Real Estate Trends

The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction…

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Housing Market Trends

Broward County September 2021 Real Estate Trends

Nationwide, existing home sales were down slightly in August, falling 2% after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar into fall, with the median sales price of existing homes…

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Florida Flood from Hurricane

New Pricing Policy for National Flood Insurance

Major Changes to the National Flood Insurance Program On Oct. 1, 2021 FEMA began implementing a new pricing methodology called Risk Rating 2.0: Equity in Action. These changes will apply to new policies. Most existing policies will not be affected until after April 1, 2022. What’s Changing? Since the 1970s, National…

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Housing Market Trends

Broward County August 2021 Real Estate Trends

The booming U.S. housing market has spilled over to the rental market, which has seen demand for apartment and single-family rentals skyrocket this year, as high sales prices and an inadequate supply of available housing have forced many prospective buyers to rent for the foreseeable future. Increased demand for housing,…

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Housing Market Trends

July 2021 Real Estate Trends – Broward County

JULY 2021 The White House announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage,…

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