The housing shortage is affecting some people and areas harder than others

In today's real estate market, an unexpected issue has emerged, one that is directly affecting a large segment of potential homebuyers. Despite a noticeable slowdown due to increasing mortgage rates, there's an undeniable shortage in the supply of homes for sale, a sharp contrast to the state of the market in 2019.

This housing shortage is affecting some segments more than others. In particular, homebuyers with an annual income around $100,000, slightly above the national average, are feeling the squeeze. Back in May, when the 30-year fixed mortgage rate was lingering in the high-6% range, these individuals could only afford houses priced around $341,000. Unfortunately,

Publix. Citrix. Office Depot. These are but a few of the largest and most recognizable companies that have called South Florida home for decades. Recently however, the corporate neighborhood has gotten a lot more crowded—and the momentum has only picked up. 

Over the past half-decade, the Palm Beach County Business Development Board has helped roll out the welcome mat to approximately 140 companies who have relocated or expanded their operations into the county. This has resulted in more than $1.12 billion in capital investment and over 13,000 direct jobs for locals.

It has also contributed to a still-booming residential and commercial market. Just over the past year, these companies have swallowed up more than 1.6 million square feet of

The Federal Reserve intensified its fight against inflation in June by announcing the biggest interest rate increase in 28 years as the government's main lending institution tries to rein in skyrocketing consumer costs. 

The largest increase since 1994, the Fed increased its benchmark interest rate by three-quarters of a percentage point. That comes after increases of a quarter point in March and a half point in May. The increase is due to growing prices for rent, groceries, gasoline, and a variety of other goods and services. Higher interest rates will increase the cost of carrying a credit card bill, obtaining a vehicle loan, and purchasing a home.

Rate increases are anticipated to continue in the upcoming months. In general, Fed policymakers

Florida seemingly continues to operate in its own world—at least when it comes to real estate. While signs indicating slowing momentum are popping up more and more throughout the nation, six of the top 25 overvalued home markets are right in our backyard, and several new studies indicate a prolonged period of unaffordability.

Florida Atlantic University, Florida International University, and the University of Alabama found that the current combination of high demand and low inventory that began at the start of the pandemic is likely to continue thanks in part to future population growth projections.

Which Florida Communities Are The Most Overvalued?

Of the six Sunshine State metro areas identified, Fort Myers topped the list. Typical buyers

It may be hard to believe, but the South Florida real estate market is quickly approaching the conclusion of its second full calendar year of record-shattering pace. Homes and condos are still selling nearly as quickly as they were at the start of the COVID-19 pandemic, and setting new highs along the way. 

With respect to Mr. Gordon Gekko, many real estate experts and economists—not to mention home buyers and sellers—aren’t convinced that all this greed is good. Headlines abound regarding a potential housing crash which would rival that of the late ‘00s. While it’s true that some cherry-picked data trends could cause concern, the fact of the matter is we find ourselves in a far different climate; one that could actually turn out positively for

It’s likely you grew up with at least one family member who wouldn’t stop talking about their dream to retire to Florida. Every holiday you’d be regaled with stories of green lawns, year-round sunshine, golf courses, beaches, and no state income taxes. In fact, that person might even be yourself!

Considering all that Florida has to offer, it’s little wonder why our home state is welcoming thousands of new residents every year. This makes for a diverse culture, incredible culinary options, and plenty of tourist-pleasing attractions; but that’s certainly not all! Here are several more reasons you should pursue that dream move:

Our Welcoming Weather

There are 365 days in one year—and in Florida more than 2/3 of them are bathed in sunshine. There

South Florida Real Estate Market Report

How's the South Florida real estate market?

Reflection...  Looking back and looking ahead

After wrapping up a year to remember in 2020, Compass is proud to share our first Florida market report of the year, showcasing data from Q1 for South Florida, North Florida, Southwest Florida, Central Florida, and the Greater Tampa Bay. While not all facets of life have returned to prepandemic norms, especially as it relates to the international travel that injects additional movement in the housing market, real estate nationwide has benefited from signs of recovery including an increase in consumer expenditure, vaccination distribution, a decrease in unemployment from 14.7% to 6% (BLS.GOV), and an acceleration of

It will take time for South Florida to fully process the long-reaching changes resulting from the COVID-19 pandemic. One of the more immediate effects, however, has been a sharp increase in home prices—thanks in combination to federal efforts consisting of low borrowing rates, and a local lack of inventory.

Across the South Florida region, prices climbed over the course of 2020. Even now, nearly 12 months since the sweeping lockdowns that slammed the country, the trend has continued, pushing prices past previous historic highs.

This isn’t unexpected, of course. The simple laws of supply and demand coupled with the typical buying frenzy that accompanies drops in interest rates are anything but unpredictable. So too is the fear of missing out on

South Florida Real Estate Market Report

How's the South Florida real estate market?

As we enter 2021, we’re taking a moment to reflect on a quarter that closed out one of the most unique years of our lives.

Last year taught us that home is so much more than the place where you sleep at night. As the lines in our lives began to blur, so did the way we experienced home. A formal dining table that was once merely for show moonlighted as our childrens’ desks as they navigated a new world of virtual learning. Kitchens previously used for an occasional dinner were enhanced with new gadgets and recipe books, as millions of US residents tried their hands at bread-making, cocktail-mixing, and getting that restaurant-worthy recipe “just right”. Living

Real estate has shifted from the COVID-19 pandemic with a hot seller’s market, with increased demand as more people are looking to move and mortgage rates are at record lows, coupled with limited supply. The real estate experts at HomeLight uncovered some of the hottest trends shaping real estate in 2021, with 7 key insights that can help buyers and sellers stay informed as they make their next moves. 

Inventory lags

There are a lot of factors that have led to the seller's market, and one of the major ones is low inventory. In Q4 2020, real estate agents overwhelmingly said that inventory is lower than they expected, with 84 percent of them noting that shift, up from 78 percent in Q4 2019. Moreover, the National Association of Realtors reported