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 ...
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This quarter (Jul-Aug-Sep) began just over a week after the COVID lockdown ended and it reflects sales-contracts that were signed during and after the COVID lockdown. We notice a slight improvement: the number of closed sales edged up a bit from the previous quarter which bodes well for the future..or at least we hope so.
Some Stats:
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A key Miami Beach board approved a glassy condo near the Art Deco-style Raleigh Hotel in Miami Beach after the New York developer agreed to trim the height from 200 feet to 175 feet. The Miami Beach Historic Preservation Board voted to approve plans to restore and renovate the Raleigh and neighboring Richmond and South Seas hotels, in the 1700 block of Collins Avenue. The project is expected to cost $750 million.
(source: miamiherald.com)
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Anticipated population growth has multifamily investors spending more on apartment buildings despite sales volume dropping by 50% for the first half of 2020, compared to the year-ago period, in Miami-Dade and Broward, according to a sales report.
Price per square foot for multifamily units slumped by 29% in Broward year-over-year, but Miami-Dade saw a 25% increase in price per square foot, according to the Cushman & Wakefield South Florida 2020 midyear forecast. The report compared sales data for the ...
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Hiring rose for the fourth straight month, though at the slowest pace since the U.S. economy began to spring back from April shutdowns.
Nonfarm payrolls increased 1.4 million in August, the Labor Department said Friday, matching economists’ expectations and following gains of 2.7 million, 4.8 million, and 1.8 million in May, June and July, respectively. The temporary hiring of 238,000 Census 2020 workers helped boost payrolls.
The U-3 unemployment rate, meanwhile, dropped to 8.4% from 10.2% in July. The decline was much ...
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Sam Khater, Freddie Mac’s chief economist, said a late summer slowdown in the economic recovery was to thank ...
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