South Florida home sales dropped in June, but pending transactions are up
Miami-Dade and Broward experienced a dip in year-over-year residential transactions in June. But it’s not all gloom and doom: Pending sales increased year-over-year, a sign of activity increasing since April. The total number of home sales decreased by over 20% in both counties, according to the Miami Association of Realtors June 2020 reports. Still, the activity is higher…
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Seminole County to offer 2nd round of grant funding for small businesses hurt by pandemic
Seminole County will offer a second round of grant funding to more small businesses that have been harmed financially by the Covid-19 pandemic. The eligibility criteria for the grants also will be expanded. The county got $20.58 million in funds distributed through Florida as part of the federal Coronavirus Aid, Relief, and Economic Security (CARES)…
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Orlando homebuyers line up as demand surges
Christine Elias hasn’t eaten dinner before 10:30 p.m. for five straight nights. In fact, the Winter Park-based Realtor has worked 15 consecutive days. That’s because demand for local homes is incredibly strong right now, and she’s working to keep up, she told Orlando Business Journal. “It’s nuts. Buyers are extremely active. They’re frenzying.” While the coronavirus pandemic…
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Struggling to pay your rent or mortgage? Florida will distribute $75M in federal aid
Orange County will get more federal funding for renter and mortgage assistance. The county will receive $7.26 million of the $75 million the state is distributing, Florida Gov. Ron DeSantis said during a July 17 press conference at the Wellington Park Apartments in Apopka. The funding comes through the federal Coronavirus Aid, Relief, and Economic Security (CARES)…
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New Home Purchase Mortgage Applications Spike 54 Percent in U.S.
The Mortgage Bankers Association’s latest Builder Application Survey for June 2020 shows mortgage applications for new home purchases in the U.S. increased 54.1 percent compared from a year ago. Compared to May 2020, applications increased by 20 percent. This change does not include any adjustment for typical seasonal patterns. “The new home purchase market continues to recover…
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Orlando residential real estate market rebounds in June
The arrival of summer brought a warming housing market to Orlando. Local home sales were up nearly 46% from May to June, according to a July 15 report from the Orlando Regional Realtor Association, reversing two consecutive months of declining sales. Residential rally Sales are still down year-over-year as the coronavirus pandemic slows the economy,…
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Luxury Listings Making Comeback After a Sharp Spring Collapse
Zillow is reporting this week that a rush of high-end homes hit the U.S. market in June 2020, reversing a trend that saw them drop the farthest and fastest when the coronavirus pandemic hit earlier this year.In April and May, new listings of the most expensive homes slowed severely, dropping by about half compared to…
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Orlando hotel occupancy rate shows improvement during pandemic
Visitation is clearly down in Orlando due to the Covid-19 virus, but activity is picking up a bit for the region’s hotels. The region’s average hotel occupancy rate has been on a steady climb — more than 12 weeks in a row – to 29.3% for the week ending July 4, said data from STR…
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New townhomes planned near Valencia College
Local builder Park Square Homes plans to construct 60 townhomes near Valencia College East Campus. The homes will go up off Valencia College Lane in Orlando, according to plans filed with the state. Orlando-based Park Homes is listed as the developer, while Hamilton Engineering & Surveying Inc., which operates an Orlando and Tampa office, is…
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Mortgage Rates in U.S. Hit Another Historic Low in Early July
According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.03 percent in the U.S. It is the lowest rate in the survey’s history dating back to 1971. “The summer is heating up as record low mortgage rates continue to spur homebuyer demand,” said Sam Khater, Freddie Mac’s Chief Economist. “However,…
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