Tanya Robotham Realtor

1/1 condo unit for rent in the Palmetto Bay area. Please contact me if you know anyone interested. Click on the link for more information and photos.

https://portal.onehome.com/en-US/share/2828799x06707

Miami ranked No. 8 on the hottest markets list and is one of the few cities that has maintained its price growth with little to no dropoff since mortgage rates started rising, a Zillow report said.

Miami projected to be one of the hottest U.S. housing markets in 2023 - South Florida Agent Magazine Miami will be one of the nation’s hottest housing markets this year, according to a recent Zillow forecast.

The real estate market is starting to shift to more normal conditions.

1 in 4 Sellers Cutting Price as Market Cools Altos Research: Rising rates and economic shifts have slowed down super-eager buyers as the market shifts to “much more normal conditions.”

Home Prices Slowdown ‘Inevitable’.

NAR: Home Prices Slowdown ‘Inevitable’ Chief Economist Yun said in an interview that it’s “just inevitable that home price appreciation will slow down in the upcoming months.”

Sales could fall as much as 10% this year due to higher mortgage rates.

Higher Mortgage Rates Set Stage for Sales Slowdown This week’s 30-year mortgage rate averaged 5.11%. Owners with locked-in lower rates have less financial incentive to sell; would-be buyers face higher loan costs.

Prices still expected to increase in Miami.

Miami-area home prices climb nearly 20% in the last year; another 9% growth projected by spring 2023 - South Florida Agent Magazine CoreLogic predicts price increases to slow by next spring in most areas, but the drop-off in South Florida is not as severe as some markets.

https://southfloridaagentmagazine.com/2021/07/12/how-long-would-it-take-a-renter-to-save-up-for-a-down-payment-in-todays-market/

How long would it take a renter to save up for a down payment in today’s market? - South Florida Agent Magazine It could take Miami-area renters more than eight years to save for a down payment in today’s market.

Experts show that South Florida is approaching a peak at 13% over market value for home prices and the coming expected correction will mean a period of flat property appreciation. However, lack of inventory and continuing population growth will not make a 2007 - 2012 type housing crash, when most homes lost half or more of their values.

Sellers call the shots in Florida’s overvalued housing market - South Florida Agent Magazine Florida homes are selling for more than 17% above their long-term pricing trend according to professors at Florida Atlantic University and Florida International University.

Mortgage rates rose this week and hit 3% due in part to concern over the spike in inflation.

Mortgage Rates Rise This Week and Hit 3% For the first time since April, average rates for a 30-year loan hit 3%, up from last week’s 2.94%, due in part to an increased concern over inflation.

It will be my pleasure to help you with all your real estate needs.

Today’s Housing Market? ‘Not the Time for Amateurs’ It may be possible to buy a home without the help of a Realtor – but it’s hard to see how given today’s multiple bid competitions for a limited number of homes.