Case-Shiller: Ease-Off in Home Prices
The foot on the gas is letting up. The explosive growth in home prices is slowing, according to the latest S&P CoreLogic/Case-Shiller Indices, which found July prices rose 6 percent year-over-year—an easing from 6.2 percent in June, and a March peak of 6.5 percent.
“Rising homes prices are beginning to catch up with housing,” says David M. Blitzer, chairman and managing director of the Index Committee at S&P Dow Jones Indices. “Year-over-year gains and monthly seasonally adjusted increases both slowed in… READ MORE
Mortgage Rates at Record Not Seen Since Spring 2011
The average 30-year, fixed mortgage rate rocketed to 4.72 percent this week, at a record not seen since spring 2011, according to Freddie Mac’s latest Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage rate rose to 4.16 percent, while the average five-year, Treasury-indexed hybrid adjustable mortgage rate shot to 3.97 percent. Last week, the rates were 4.65 percent, 4.16 percent and 3.92 percent, respectively.
The cause of the jump? According to the Case-Shiller Indices, also released this week, home prices areslowing… READ MORE
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The Current Miami Springs Market
What are You Waiting For?
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 21, through September 28 2018 there were 3 new listings, 3 closed sales, 3 pending sales, 0 expired listings.
The table below shows the current status of the Miami Springs/VG real estate market as of Friday, September 21st, 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.
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