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More Homeowners on Board With Selling
With prices rapidly rising, homeowners have been reluctant to sell, fearful of being unable to afford another home—a catch-22, because inventory is limited as it is, and compounded further when homes are kept off the market. Now, their confidence is growing, according to the latest…READ MORE
Mortgage rates hit a seven-and-a-half-year
High…easy money era comes to a close
Rates for home loans jumped along with yields in the broader bond market, taking financing costs to a recent high and raising fresh questions about the effect of another headwind on a housing market that’s already sputtering.The 30-year fixed-rate mortgage averaged 4.72% in the September 27 week, up from 4.65%, mortgage liquidity provider Freddie Mac said Thursday. That marked the fifth straight weekly gain for the benchmark product, and took it to its highest point since April, 2011. the chief economist for the National Association of Realtors, Lawrence Yun, pointed to signs that homeowners are more ready to put their properties on the market as prices keep moderating. “As long as there is job growth, rising mortgage rates will hinder some buyers,” Yun said. READ MORE
The Miami Springs and Virginia Gardens markets continue to be very strong. The demand is high for any property under $400,000, but the inventory remains low. and the lack of affordable entry level homes will be an obstacle for first time home buyers. The market continues to show activity.
The Pending sales increased this week. During the period of September 28th, through October 5th, 2018 there were 6 new listings, 3 closed sales, 2 pending sales, 1 expired listings.
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, October 5th, 2018. All closed sales are within last 90 days.
HOW DOES YOUR HOUSE COMPARE?
*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.
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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