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South Florida's condo market continues reeling from reforms. Home prices continue going up, but that's slowing, too.
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It might be a buyers market for condos, but buyers are not too interested thanks to reforms and financing difficulties. Meanwhile, demand for homes underpins that market, creating a further gulf between the markets for condos and single family home in the region.
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South Florida home prices are among the most expensive in the nation. The region is also home to some of the highest interest rates for buyers borrowing money to buy a home or condo.
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Condo sales keep falling while home prices hold steady. Look up how condo sales have been in your zip code.
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Single family home prices in South Florida have continued to rise over the past year. While the pace of the price increases is expected to moderate, one expert does not foresee a cliff.
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City Furniture is one of the largest importers using PortMiami, bringing in patio chairs, rugs and tables from Asia. It hopes to ‘spread out’ its higher costs to shoppers, but its CEO doesn’t expect President Trump’s tariffs to ignite a renaissance of furniture manufacturing in the U.S.
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High priced South Florida homes and condos are finding buyers while older and lower priced condos struggle across the region.
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The new year was off to a messy start for South Florida condo sales. Palm Beach County was a small bright spot. Home prices kept climbing to new records, though.
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Renters could save a lot of money if they don't pay separate application fees each time they apply for a place. A local state legislator has introduced a bill that would let landlords use reusable reports, like credit and eviction history, across multiple rental applications.
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The regional condo market is trying to find some equilibrium as it deals with financial reforms. The number of South Florida condos sold in December continued falling, but at a slower pace than past months. Median prices for single family homes hit new records in Miami-Dade County.
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As owners across South Florida feel the squeeze with the looming Dec. 31 deadline for reserves, a young Palm Beach County firefighter says he faces a tough decision: to stay in his unit or or sell it after monthly condo assessment fees skyrocket.
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It is a tale of two housing markets in South Florida. Condo prices are falling while single family home prices hold steady.