Should Buyers Beware or Start Celebrating?
After years of steadily increasing values, home price reductions are on the rise. In fact, the share of U.S. homes listed for sale with at least one price cut is at its highest level since 2014—“more evidence of a market that may finally be tilting in homebuyers’ favor,” states a new report by Trulia.
According to Trulia, price reduction… READ MORE
Existing-Home Sales Suffer
Largest Annual Drop in Four Years – Update
Sales of previously owned U.S. homes posted their largest annual decline since 2014 in October, as the housing market continues to sputter due to higher mortgage rates that are reducing home affordability.
The latest data offered a mixed picture of a market that isn't in free fall but also is far from robust. Existing-home sales edged up 1.4% in October from the previous month to a seasonally adjusted annual rate of 5.22 million, the National Association of Realtors said Wednesday. That broke a six-month streak when sales declined compared with a month earlier.
Sales, however, posted a sharp 5.1% drop compared with a year earlier, indicating the market is likely to end the year on a sluggish note. …READ MORE
The Miami Springs and Virginia Gardens markets continue to be very strong. The demand is high for any property under $400,000. The inventory levels continue to climb. 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%.
A shift is on the way, towards a Buyers' market!
Call us to take advantage
During the period of November 16th, through November 23rd, 2018 there were 3 new listings, 6 closed sales, 0 pending sales, 0 expired listings.
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, November 23rd, 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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