Since the reopening of the marke last June, 70% of the contracts signed came from a listing with a price cut. (source: ubrandigs)
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28
DEC
2020
DEC
2020
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Months of stay-at-home orders, growing numbers of infections and deaths, working remotely while the kids are attending school in the next room, stop-and-start business closures, and no end in sight to the COVID-19 pandemichave all had an unexpected impact on Miami-Dade’s real estate market. It’s just not what you probably think it is.
COVID-19 has turned out to be ...
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26
OCT
2020
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OCT
2020
Mortgage rates notch new low
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The average rate for a 30-year fixed-rate mortgage dropped .07 percentage points for the week ending Sept. 10, reaching 2.86 percent — anew low since Freddie Mac began conducting the survey in 1971. This time last year, the mortgage rates averaged 3.56 percent. Fifteen-year mortgages declined, too, to an average of 2.37, while five-year mortgages were up 18 percentage points to 3.11.
Sam Khater, Freddie Mac’s chief economist, said a late summer slowdown in the economic recovery was to thank ...
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23
SEP
2020
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SEP
2020
Manhattan is Cold, the Suburbs and Brooklyn are Hot! Here’s what the resi market looked like in July
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In Manhattan, the drops were stunning. July contracts for co-ops priced between $4 million and $5 million were down 94 percent from the same month last year. No contracts were signed for condos above $20 million. Across all price brackets, condo and co-op contracts were down 56 percent.
But in Brooklyn — where New Yorkers often migrate to in search of bigger homes and more open space — the numbers surged: 178 new condo contracts in July, up from 147 last ...
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28
AUG
2020
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AUG
2020