Needing places to either work from temporarily or vacation as they escaped pandemic restrictions, COVID fleers made South Florida one of their top destinations. And with them came an increased need for short-term housing, or vacation rentals. “It appears mostly in the Sunbelt states, particularly in Florida, in South Carolina, where we have beachfronts and…
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he Northeast Florida Association of Realtors (NEFAR) says single-family home sales in June showed the first signs of stabilizing following constant monthly increases for more than a year. Reasons for the slowing sales? Inflation and rising mortgage rates. Putnam, Clay and Baker counties saw median home prices increase, while they declined by $28,050 in St.…
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Overall housing starts fell 2.0% to a seasonally adjusted annual rate of 1.56 million units in June from an upwardly revised reading the previous month, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. A June reading of 1.56 million housing starts represents the number that…
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WEST PALM BEACH, Fla. – The specter of Champlain Towers South came in an email alert this month for residents of a West Palm Beach waterside condominium. Insurance on the 12-story building across from the Lake Worth Lagoon increased 82%, requiring a special meeting to hike the budget and jack up dues. It was a…
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SARASOTA, Fla. – Low inventory, a flourishing housing market and exponential population growth have caused rental prices in the Sunshine State to explode. Those rent leaps are causing hardship for workers and families across Florida. And they are driving some residents to leave the state even as others flock here. Florida’s median rent hit an…
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What’s trending and where? Confused.com, a home insurance resource, took its annual look at the latest trends for homes across the U.S. In New Mexico, residents are loving Japanese home-inspired styles (like white walls and “zen” finishes) while Maine, Massachusetts and New Hampshire residents are showing more favor for Tuscan styles (with terracotta, iron finishes,…
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Homebuyer migration remained at an all-time high in April and May, with 32.3% of Redfin.com users nationwide looking to move to a different metro area, according to a new report. The percentage is unchanged from a record set in the first quarter but up from about 26% before the pandemic began. Homebuyers aren’t just chasing…
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TALLAHASSEE, Fla. – A federal judge dismissed a First Amendment fight about part of a 2021 property-insurance law aimed at curbing advertising by roofers after the Florida Legislature revamped the law last month. Chief U.S. District Judge Mark Walker dismissed the case Friday after attorneys for the plaintiffs and the state said it was moot.…
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Since the pandemic, lumber prices have skyrocketed to record highs during the pandemic and pushed new-home construction costs higher. But prices are now coming down. Lumber prices fell 12% last week, reaching a new low in 2022. That could be welcome news for new-home buyers and builders. Over the past year alone, the swings in…
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Price drops are increasingly common, particularly in hot migration destinations, according to a new report from Redfin. In Florida, the study found that one out of three Cape Coral sellers dropped their price this April compared to only 18.5% in April of 2021. Of the 11 Florida cities included in the study, Cape Coral topped…
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