Naples Daily News - January 2021 In his more than 30 years of selling homes in Southwest Florida, in fact, Grimes said he's never seen such a big year-over-year leap in luxury homes sales. After crunching numbers to figure out how many ultra-luxury homes sold in Southwest Florida last year, real estate market expert Denny Grimes had a hard time believing what he saw on paper. He did a double take, then reviewed and recalculated the sales again — … [Read more...]
2021 Will Likely See the Most Robust Housing Market in 15 Years
Mansion Global - December 14, 2020 According to a newly released Redfin report, the U.S. housing market will get stronger through 2021, as the economy recovers from the pandemic-driven recession. Home sales, new construction and home ownership are predicted to rise to record highs. According to Tuesday's report, Annual home sales are expected to rise more than 10% in 2021. According to Daryl Fairweather, chief economist of Redfin “Even as the pandemic hopefully nears its end, … [Read more...]
Almost 1,000 Americans Move to Florida Daily
Almost 1,000 Americans move to Florida EVERY DAY as families abandon northern cities in New York, New Jersey and Connecticut - with home sales more than doubling in the Sunshine State Dailymail.co.uk September 7, 2020 Home sales in some parts of Florida have more than doubled since the pandemic Roughly 950 move to Florida a day and many come from high-tax Northern cities in New York, New Jersey and Connecticut In Palm Beach County new single-family home contracts over $1 million … [Read more...]
Think This Is a Housing Crisis? Think Again.
With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it’s logical to ask that question. Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis … [Read more...]
Housing Market Check-In
Housing Market - 6 Expert Predictions for the Second Half of 2019 A. Yale - Forbes.com The year has so far been a promising one for would-be home buyers. The seemingly unending rise in home prices started to slow and mortgage rates dipped to unexpected lows. Both were good news for Millennials who—despite the never-settle-down stereotype—are yearning to become homeowners. Still, despite suggestions that a buyer’s market might be on the horizon, that dream has yet to be realized. … [Read more...]
Americans’ Favorite Long-Term Investment
Survey: Real Estate Is Back as Americans’ Favorite Long-Term Investment Stocks have long been the most glamorous of the major asset classes. Many a Hollywood film has centered around making fast money in the stock market, and becoming a Wall Street big shot. But despite their great long-term returns—they’ve averaged about 10 percent annually for decades—stocks are no longer Americans’ favorite long-term investment. What is? According to a nationwide Bankrate survey, it’s real … [Read more...]
Florida Is the Big Winner as the Wealthy Move Out of Northern States
Roughly 5 million Americans move from one state to another annually and some states are clearly making out better than others. Florida and South Carolina enjoyed the top economic gains, while Connecticut, New York and New Jersey faced some of the biggest financial drains, according to a Bloomberg analysis of state-to-state moves based on data from the Internal Revenue Service and the U.S. Census Bureau. Connecticut lost the equivalent of 1.6% of its annual adjusted gross income, as … [Read more...]
BUYER’S MARKET HELPS PREMIUM HOME SALES SOAR
We previously reported how a shortage of inventory in the starter and trade-up home markets is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the premium home market, an over-abundance of inventory has started to see prices come down and put buyers in the driver’s seat, creating the beginning of a buyer’s market. Last week, the National Association of Realtors released their Existing Home Sales Report which shed some additional … [Read more...]
National View – US Home Price Rise Strongest in Nearly Three Years
These are heady days for American home sellers, with a report Tuesday showing that housing prices in March recorded their largest annual increase in nearly three years. But the gains are inflicting more financial pain on home buyers, though the price run-up has fallen well short of the annual double-digit increases during the mid-2000s housing bubble. Home prices across the USA were up 5.8 percent annually in March, up from 5.7 percent the prior month, according to the S&P CoreLogic … [Read more...]
Why Housing is Not Headed for Another Bubble
With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago. Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand … [Read more...]