FED HOLD RATES FIRM FOR THE FIFTH CONSECUTIVE MEETING

via themortgagepoint.com—The Federal Reserve Open Market Committee (FOMC) has wrapped up its July meeting Wednesday afternoon, and decided for the fifth consecutive meeting, to hold the federal funds rate steady at 4.25%-4.50%.

“Although swings in net exports continue to affect the data, recent indicators suggest that growth of economic activity moderated in the first half of the year. The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated,” said the Fed in a statement to the press. “The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate.”

Bankrate Chief Financial Analyst Greg McBride, CFA, noted, “The ongoing uncertainty about looming tariffs has been like waiting for another economic shoe to drop. But is that other shoe going to be a steel-toed work boot, a beach flip-flop, or something in between? We should get some clarity on that between now and the Fed’s September meeting with updated inflation data, including two CPI releases, and two more monthly employment reports. The tariff timetable is ever-evolving, so uncertainty could continue to prevail into the fall.”

“The home lending industry remains optimistic of a rate cut this year, but it looks to be some time before the Federal Reserve enacts an interest rate cut decision,” said Matt Pettit, President of Mountain West Financial. “New home starts and sales will continue to dwindle until lending prices come down for mortgage companies. That said, the pressure to see an improvement in home sales is continuing to grow, without the benefit of the Fed lowering interest rates. There may be additional housing …READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

We are truly in a unique market where timing is everything! There are forty (40) active listings in the Miami Springs/Virginia Gardens real estate market this week! There are sixteen (16) active listings over $1million—that's approximately forty percent (40%) of the active listings! Thirteen (13) of the active listings have had a price reduction, two (2) this week. The number of days properties are staying on the market is averaging 53 days. There is ONE property under $600,000; five (5) properties are priced between $600,000-$700,000; eight (8) between $700,000-$800,000; five (5) between $800,000-$900,000; five (5) are priced between $900,000-$1,000,000; fourteen (14) between $1-2 million; and two (2) properties are priced for over $2 million.

Demand has slowed down a bit again but there are still many qualified Buyers out there. Interest rates remain relatively unchanged. Property values and sold prices remain strong in Miami Springs and Virginia Gardens, though we are seeing more price decreases this year. Inventory increases in the months ahead? We think so! Increasing inventory is better for Buyers, though prices have remained strong for Sellers despite high interest rates.

The limited options for entry level homes, high interest rates and homeowner insurance costs make it difficult for many first-time buyers. Additionally, there is a practically nonexistent number of entry-level homes (e.g., under $600,000). Interest rates aside, we continue to anticipate more inventory increases.

Mortgage interest rates remain under 7%. They are expected to fluctuate between 6-7% in 2025. Current interest rates create a difficult situation for sellers that have a mortgage with a low interest rate. Where do they go if they decide to sell? Any additional interest rate increases in the future can mean fewer Buyers. Properties are staying on the market for longer but some houses still quickly sell. It all depends on pricing, condition, and location, location, location. Timing is everything!

CALL US FOR AN EVALUATION

During the period of July 25, 2025 through August 1, 2025, there were reported 4 new listings, 1 closed sale, 5 pending sales, 2 active with contract, 0 expired listing, 0 cancelled listing, 0 temp off market, 2 price reductions, and 0 price increases.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of August 1, 2025. All closed sales are within the last 90 days.

*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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