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Home Sold With Multiple Offers Sign

The Federal Reserve intensified its fight against inflation in June by announcing the biggest interest rate increase in 28 years as the government's main lending institution tries to rein in skyrocketing consumer costs. 

The largest increase since 1994, the Fed increased its benchmark interest rate by three-quarters of a percentage point. That comes after increases of a quarter point in March and a half point in May. The increase is due to growing prices for rent, groceries, gasoline, and a variety of other goods and services. Higher interest rates will increase the cost of carrying a credit card bill, obtaining a vehicle loan, and purchasing a home.

Rate increases are anticipated to continue in the upcoming months. In general, Fed policymakers

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Will South Florida's Real Estate Market Crash?

Florida seemingly continues to operate in its own world—at least when it comes to real estate. While signs indicating slowing momentum are popping up more and more throughout the nation, six of the top 25 overvalued home markets are right in our backyard, and several new studies indicate a prolonged period of unaffordability.

Florida Atlantic University, Florida International University, and the University of Alabama found that the current combination of high demand and low inventory that began at the start of the pandemic is likely to continue thanks in part to future population growth projections.

Which Florida Communities Are The Most Overvalued?

Of the six Sunshine State metro areas identified, Fort Myers topped the list. Typical buyers

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Five Reasons Experts Say No Housing Market Crash in 2022

It may be hard to believe, but the South Florida real estate market is quickly approaching the conclusion of its second full calendar year of record-shattering pace. Homes and condos are still selling nearly as quickly as they were at the start of the COVID-19 pandemic, and setting new highs along the way. 

With respect to Mr. Gordon Gekko, many real estate experts and economists—not to mention home buyers and sellers—aren’t convinced that all this greed is good. Headlines abound regarding a potential housing crash which would rival that of the late ‘00s. While it’s true that some cherry-picked data trends could cause concern, the fact of the matter is we find ourselves in a far different climate; one that could actually turn out positively for

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South Florida Real Estate Market Report - 3rd Quarter 2021

South Florida 3rd Quarter Real Estate Market Report

How's the South Florida real estate market?

The Recipe for our 3rd Quarter 2021 Florida Housing Market

Here’s the Recipe for Our 3rd Quarter 2021 Florida Housing Market: Take one large housing-supply shortage; add a global pandemic, economic shutdown, and supply chain shortages; mix in rapid population growth, and you will yield today’s residential real estate market.

At a national level, we’re seeing record gaps in housing supply and demand. The US Census reveals 12.3 million households were established between January 2012 and June 2021. Compare this to the 7 million new single-family homes constructed during that time.

Florida Realtors reports a robust pace and high absorption rate

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South Florida's Rising Rents and Cost of Living

South Florida’s rental market has long been less-than-ideal for non-homeowners.

Landlords operated happily within the free market, raising their rates and easily finding plenty of takers ready to bask in the temperate weather and vibrant culture that our region offers. Those whose bank accounts couldn’t keep up were hastily left behind.

The past year seems to have accelerated the trend even more as too few new apartments have been built, and affordable housing has become even more scarce. Renters seemingly have little to no control of the market, making Florida one of the worst locations in the country to rent in. This reality has re-started the conversation over rent control—a proposal that has always failed in the past; but with examples set

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Surfside Condominium CollapseIn the wake of the tragic collapse of the Champlain Towers South in Surfside, more questions and concerns regarding the safety of buildings throughout South Florida have emerged seemingly every day. Now, a coalition under Palm Beach County’s League of Cities has proposed an inspection of many condos, apartment buildings, hotels, and offices both east and west of I-95.

The proposal targets buildings a minimum of 25 years old east of the highway, and 35 years old on the western side, regardless of height. This surpasses the standard of 40 years of age in Miami-Dade and Broward counties. While one and two-family homes, government buildings, and schools are excluded, this would result in a massive undertaking, as 90% of the condominiums stretching from

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South Florida Real Estate Market Report

South Florida Real Estate Market Report

How's the South Florida real estate market?

Reflection...  Looking back and looking ahead

To sum up Florida’s real estate market for the first half of 2021, one word comes to mind: unexpected. Florida has long enjoyed an influx of residents migrating from across the country, and around the world, to call the Sunshine State home. With remote work becoming a permanent option, over 900 people per day are moving to Florida, according to the Palm Beach County Business Development Board. Reasons for this explosive growth in Florida can point to fair weather, a business-friendly climate, and the lack of state income and estate tax.

Low-interest rates continue to fuel affordability and drive high absorption

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Though typically not a busy time in the South Florida market, the 2021 summer season has kept the momentum going from the beginning of this year. In fact, national statistics stemming from the week leading up to the 4th of July indicate that housing is still a hot commodity across the nation!

However, there were signs indicating some relief may be within sight, though buyers shouldn’t celebrate quite yet, as the data discrepancies could be attributed to the lead up to the holiday weekend.

Overall, the data demonstrates more of the same—fewer new listings, and historically high home price growth. Both of these aspects mean a tough environment for buyers without the ability to offer top dollar or make a quick purchase decision. However, there are

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There's No Housing Bubble

As soon as housing prices seem to rise, two questions spring to mind—and into headlines:

“What’s MY home worth?”, followed immediately by “when will THIS housing bubble pop?”

With current median selling prices up nearly $35,000 compared to the same period last year, it’s the latter (along with still-fresh memories of last decade) that have some buyers waiting on the sidelines. However, while experts have no idea how far prices will run, they can seemingly agree on one thing: we aren’t actually in a bubble.

And those that wait will likely regret it.

This Is A Different Housing Market

Take it from none other than a Morgan Stanley strategist who shared in a note to clients that the bank had a “strong conviction that we are not experiencing

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South Florida Real Estate Market Report

South Florida Real Estate Market Report

How's the South Florida real estate market?

Reflection...  Looking back and looking ahead

After wrapping up a year to remember in 2020, Compass is proud to share our first Florida market report of the year, showcasing data from Q1 for South Florida, North Florida, Southwest Florida, Central Florida, and the Greater Tampa Bay. While not all facets of life have returned to prepandemic norms, especially as it relates to the international travel that injects additional movement in the housing market, real estate nationwide has benefited from signs of recovery including an increase in consumer expenditure, vaccination distribution, a decrease in unemployment from 14.7% to 6% (BLS.GOV), and an acceleration of

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