Miami Real Estate News
Miami
U.S. Home Sales Decline for 12 Consecutive Months in January
According to the National Association of Realtors, existing U.S. home sales fell for the twelfth straight month in January 2023. Month-over-month sales were mixed among the four major U.S. regions, as the South and West registered increases, while the East and Midwest experienced declines. All regions recorded year-over-year declines.
Percentage of All Cash Buyers Declined in America in Late 2022
National property broker Redfin is reporting roughly one-third (31.2%) of U.S. home purchases were paid for with all cash in December 2022. That's up from 28.8% a year earlier but down from the eight-year high of 31.9% hit in November 2022.
U.S. Builder Confidence Becomes Cautiously Optimistic in February
According to the National Association of Home Builders, two consecutive solid monthly gains for U.S. builder confidence, spurred in part by easing mortgage rates, signal that the housing market may be turning a corner even as builders continue to contend with high construction costs and building material supply chain logjams.
U.S. Mortgage Rates Begin to Rise, Again
After falling for five straight weeks, U.S. mortgage rates jumped last week, triggering a decline in U.S. mortgage demand. Total mortgage application volume fell 7.7% last week.
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