November 2020 - Rava Realty

US home prices jump at record rate

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Home prices are on the up, but that may lead to trouble in the future.

The median cost of a single-family home jumped 12 percent in the third quarter to $313,500, marking the biggest year-over-year increase since 2013, according to data from the National Association of Realtors that was first reported by Bloomberg.

“Favorable mortgage rates will continue to bring fresh buyers to the market,” said Lawrence Yun, NAR’s chief economist. “However, the affordability situation will not improve even ...

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Another Month Of Double-Digit Gains For Miami’s Condo Market In October

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Miami’s condo market continued to show an increase in sales volume and a decrease in inventory last month, according to a new report from Miller Samuel.

The number of condos that were put into contract in Miami-Dade during October was up 12.8% compared to the same period in 2019. In Broward, condo market contracts were up 86% for the month, and in Palm Beach the increase was 155%.

Condo inventory in Miami has been shrinking since 2018, and that ...

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Cuomo imposes new Covid-19 restrictions

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Any establishment with a state liquor license, including bars and restaurants, along with gyms, must close at 10 p.m., Gov. Andrew Cuomo announced.

“NYS is taking action to stop the spread in response to rising COVID numbers,” Cuomo said in a tweet.

Covid-19 cases in New York have hit levels not seen since the spring, with the infection rate seven-day average in the city rising above 2 percent, and the statewide infection rate close to 3 percent.

Bars and ...

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Manhattan Rental Report October 2020

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What’s going on in the Manhattan rental Market? Let’s take a look at the October data…

After months of price declines, people are moving back to the city. The number of new leases is finally on the rise surging to the highest October peak in twelve years.

The Number of New Leases surged 33.2% to 5,641 from October 2019, ...

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