Inflation is hitting the housing market, forcing Florida buyers and sellers to change course – Florida Trend

Inflation is hitting the housing market, forcing Florida buyers and sellers to change course – Florida Trend

Inflation is hitting the housing market, forcing Florida buyers and sellers to change course

As inflation rises across the country, some buyers and sellers in South Florida are adjusting their home process to compensate. With the market in the region already red hot, real estate agents say they have been dealing with sellers who want to bump up their sell date, to take advantage of higher prices in case inflation slows the market while some buyers are also accelerating their buying process to take advantage of interest rates before they climb. More from the   South Florida Sun-Sentineland CBS 12.

Two for 2022: A look at commercial real estate in the new year

The start of a new year comes with optimism, with feelings that anything is possible and change is on the horizon. But the reality, once the champagne wears off, is the new year is just a designation on the calendar, a continuation of the previous year. That designation, though, is a powerful one, allowing for both reflection and for a look forward. [Source: Business Observer]

Need to make a cash offer to compete in the real estate market? These companies offer possible solutions

Many Florida buyers are relying on financing and, in today’s competitive real estate market, losing out on their dream home. One solution might be a relatively new crop of companies, such as HomeLight and Better, that are helping middle-income buyers offer cash for homes. Typically, these companies purchase the home using their funds, then sell it back to the buyer using a mortgage. [Source: South Florida Sun-Sentinel]

Millennials are supercharging the housing market

Housing analysts say the pandemic and the advent of remote work have added momentum to already building millennial home-buying trends. CoreLogic calculates that millennials constituted 67% of first-time home purchase mortgage applications and 37% of repeat purchase applications in January through August, and those numbers could grow even more as the largest percentage of millennials turned 30 this year. [Source: Florida Trend]

As South Florida condos age, more owners are willing to sell

For some South Florida condo dwellers, that tap on the shoulder could lead to the deal of a lifetime. The tri-county’s white hot real estate market is prompting developers to take stock of the region’s older beach front high-rises as potential buyout candidates for redevelopment. While not new, the trend has taken on greater importance as vacant land disappears and more out-of-state residents move to South Florida in search of luxury digs. [Source: AP]

STAT OF THE WEEK
$13.125 million
Record and movie producer Jon Landau has listed his Plantation Key home for the nearly $14 million. If it sells at that price, it would break a record for the Florida Keys, which is currently $13.125 million. [Source: The Real Deal]

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Source: https://www.floridatrend.com/article/32910/inflation-is-hitting-the-housing-market-forcing-florida-buyers-and-sellers-to-change-course

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