By ERIN FLYNN JAY Driven by job opportunities and a favorable climate, Miami continues to maintain its position as the nation’s most competitive market for apartment renters, highlighting opportunities for investors in multifamily and commercial real estate. Miami is a major economic center with a diverse economy, including finance, technology, healthcare, and tourism. The city’s…
The number of underwater homes in the U.S. dropped in Q4 2023 as home prices continued soaring, adding to the property wealth of American homeowners. Equity rose by approximately $24,000 YOY for the average borrower, according to new data from CoreLogic. A home is underwater if it has negative equity – that is, if it’s…
As home prices continue to rise across the country, New England is a hot spot for year-over-year gains. CoreLogic’s national Home Price Index increased for the 139th consecutive month in August, up 3.7% YOY, the biggest gain since February 2023. Prices are now 42% higher than in March of 2020, when the pandemic began. Massachusetts’…
Nearly 5.5 million homes are sitting vacant in the U.S.’s largest metros, but they’re not going to save the housing market. LendingTree analyzed the latest U.S. Census Bureau American Community Survey data to find out what cities have the highest shares of unoccupied homes and why. Their survey found that 5,475,687 housing units are vacant…
Rents have been rising nationwide, squeezing Americans hoping to save for a down payment or to reduce debt. But a new analysis from the Bank of America Institute found that renters in the Sun Belt have felt the worst of it. Median rent payment growth in Sun Belt cities like Phoenix and Tampa outpaced Western…
Miami has once again topped the list of the most popular metros for movers. A record 25% of Redfin.com users looked to move to another metro in January, with the most popular searches being Miami, Sacramento, and Las Vegas. This is up from 24.5% in Q4 2022, 22.8% last year, and 18% before the pandemic….
By KIMBERLEY HAAS Industry leaders are sharing their thoughts as 2022 winds down and they are expressing gratitude despite challenges in the current market. Bill Banfield, EVP of Capital Markets at Rocket Mortgage in Detroit, Michigan, said he appreciates the mental stimulation of navigating a tough market because people are forced to get creative in…
By CHUCK GREEN There are those who downright groove to the tune of a lifestyle embedded squarely in the middle of the action. You know, the big city, the vibe of being at the nexus of it all. Downright intoxicating. Conversely, others are swayed by the tranquility of a smaller city or town, finding it…
Inflation is soaring in America’s most popular migration locations, in part because of their boost of new residents and high home price appreciation, Redfin reported. Phoenix, Atlanta, Tampa, and Miami saw double-digit inflation in Q2 2022. They are also all high migration areas that are popular among Redfin’s users. Inflation in Phoenix was up 11.3%…
By KIMBERLEY HAAS As prices for rental housing continue to climb in many parts of the country, bidding wars are becoming more common. According to a report released last week by Joel Berner and Danielle Hale for Realtor.com, rent has reached another high in the company’s data history, averaging $1,827 in the 50 largest US…
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