March 2025

Great Miami Area Residential Sales Decline 15 Percent Annually in February

According to new data from the Miami Association of Realtors, total residential sales in Miami-Dade County fell by 15.5% year-over-year in February 2025, declining from 1,705 to 1,440 transactions. This decline is attributed to elevated mortgage rates, a sluggish stock market, limited condo financing, and inventory shortages at key price points. Sales of single-family homes dropped by 8% year-over-year,...

Lower mortgage rates driving early spring home sales

Mortgage rates are lower this year compared to last, and while they haven’t dropped to 6% yet, many are wondering if we might see a pick-up in existing home sales driven by our early indicators. Today, I’m diving into this intriguing topic! It’s important to note that my focus isn’t on last week’s existing home sales report, which far exceeded expectations – I delve into the reasons behind...

Alabama law: Buyers don’t have to sign contract before home tours

Alabama governor Kay Ivey has signed into law a bill that ensures homebuyers only have to sign a buyer brokerage agreement prior to submitting an offer on a property and not before touring a home with an agent.  Ivey signed the bill into law on Tuesday after it passed the state Senate earlier this month. The bill was first introduced in early February when it was sponsored in the Alabama House of...

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