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Local Housing Markets Report Low Inventory in October

Pro Builder

Local Housing Markets Report Low Inventory in October. Housing inventory is reaching record lows—here’s what to expect in the months ahead. Housing inventory could increase on a year-over-year basis during the winter months, but will still remain at historically low levels, says Bill McBride in the CalculatedRisk Newsletter. .

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Property Type Driving Miami Real Estate Trends During Pandemic

Pro Builder

Property Type Driving Miami Real Estate Trends During Pandemic. The impact of the coronavirus pandemic on the Miami housing market falls along property lines: Single-family homes are still selling like hot cakes, but condos? As condo inventory increases, the demand has decreased, creating what Redfin says is a buyer’s market.

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Starter Home Inventory at Five-Decade Low

Pro Builder

Starter Home Inventory at Five-Decade Low. Freddie Mac defines entry-level housing as homes up to 1,400 square feet, and inventory for those homes is now at a five-decade low, reports Realtor.com. cbroderick. Thu, 07/22/2021 - 10:15. In 2006, he bought what he said is his largest home ever: a two-bedroom house at 1,250 square feet.

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An Influx of Buyers Nearly Dries Out Palm Beach's High-End Inventory

Pro Builder

An Influx of Buyers Nearly Dries Out Palm Beach's High-End Inventory. Compared to last year, there are 79% fewer homes for sale, bringing Palm Beach’s housing inventory down to a five or less month supply. Southern Florida is experiencing a booming market in general right now, Miami’s home prices jumped 42% in the quarter as a result.

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Rental Market Recovers Faster Than Predicted

Pro Builder

There’s rebalancing in the for-sale market as well with inventory increasing for the third consecutive month and home value growth slowing in many of the largest markets. Inventory Rebound Continues. For-sale inventory, while still down 27.6% If there had been no pandemic, Zillow predicted rents would be 2.9% higher in Tampa.

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Luxury Home Sales Are Plummeting in These Pricey Metros

Pro Builder

31, 2023, compared with the same period one year ago, led by substantial drops in Miami and Long Island, N.Y. At the start of the COVID-19 pandemic, Miami welcomed an influx of wealthy buyers migrating from the Northeast, but at the start of 2023, luxury sales in Florida’s popular oceanfront metro dropped by nearly 69%.

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What Was September Like in Denver, Las Vegas, and San Diego?

Pro Builder

Inventory in San Diego is at an all time low, whereas inventory in Denver is up 107% (about double) from the all time low in March of this year. Las Vegas inventory is up 74% from the record low in April. Months of inventory increased to 0.76 Las Vegas inventory is up 74% from the record low in April. Read More.