Monday, August 3, 2020 / by Jordana Tobel
A bad time to sell? Well, no. A bad decision to buy? Absolutely not. What's REALLY happening in the South Florida real estate market?
To those outside the industry, it may feel different but there are facts and circumstances in today's world that simply make this market unlike any other. Those of us who were around for the 2008 Recession may have some moments that feel like deja vu, but the truth is that this is nothing like the last recession.
Let's dispel the top three myths:
MYTH #1. It's a bad time to sell a home.
Yes, we are in a pandemic and unemployment is an issue, however despite that fact, there are many buyers frantically looking for a place to call home. At the same time, many homeowners are choosing not to sell and thus new home listings plunged 14% in early July compared to last year at the same time. Total inventory is also down 32% year over year. That means the current buyer demand is higher than the seller supply.
If you are considering selling, now is a great ti. ...
Tuesday, December 24, 2019 / by Jordana Tobel
2019: Strong, and Getting Stronger
Before discussing what’s in store for 2020, let’s summarize the 2019 real estate market: the 2019 housing market included low rates, high demand, and limited supply. Supply was most limited on the lower end of the market.
What’s to Come in 2020
In regard to what’s to come in South Florida, we look to the experts. On December 13h, at Brickell City Tower in Miami, the sixth annual Market Review provided an overview of the state and future of South Florida’s market. One important point that came out of that discussion is the fact that South Florida will continue to see a swell of transplants from northern states in the coming decade, a trend that will result in the continued upward trajectory of the residential market.
2019 South Florida Market Review anticipates growth.
South Florida Surge
Equally important is the surge of new companies relocating to the tri-county area. T. ...