The Beginning of the End of Explosive Prices

Case-Shiller ‘Confirms’ Cooling Housing Market…In September, the growth in home prices slowed to 5.5 percent, continuing a cooldown that surfaced this summer, according to the latest S&P CoreLogic/Case-Shiller Indices. With buyers grappling with increasing mortgage rates, prices were ripe to stabilize. With the exceptionof October, existing-home sales have settled into a slump for the year, and housing starts, overall, have been weak. “Sales of both new and existing single-family homes peaked one year ago in November 2017,” says David M. Blitzer, chairman and managing director of the Index Committee at S&P Dow Jones Indices. “Sales of existing homes are down 9.3 percent from........  READ MORE

Optimistic Long-Term Outlook ?

Year-over-year contract signings also fell by 6.7 percent, making this the tenth straight month of annual decreases.

Lawrence Yun, Chief Economist at NAR, noted that 2013 had a similar period of decline, wherein interests rate went up from 3.5 percent to 4.5 percent. He added that “sales finally…READMORE

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The Current Miami Springs Market

The Miami Springs and Virginia Gardens markets continue to be very strong.  The demand is high for any property under $400,000.  My report from a month ago (10-15-18) showed only 39 active listings.  This week the active listings are up to 49.  That is an increase of over 20%.  Sellers, make your move Now. 

A market shift is on the way!

Call us to take advantage

During the period of November 23rd, through November 30th, 2018 there were 5 new listings, 3 closed sales, 1 pending sales, 0 expired listings.

The inventory is still tight. A seller's market! There are still very good buying opportunities for buyers since interest rates remain very good. It's still a good time to buy or sell.

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, November 30th, 2018. All closed sales are within last 90 days.

HOW DOES YOUR HOUSE COMPARE?

 A complete list of all the properties for sale in Miami Springs or any other area of Miami-Dade County can be sent to you on regular basis. Request it at:  charlie@leonardrealestategroup.com

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