Connect with us

Florida

South Florida takes home sales hit in June as inventory swells

Published

on

South Florida takes home sales hit in June as inventory swells


South Florida’s housing market was sluggish in June, as single-family home sales and even condominium sales were well off the mark from a year ago.

The “Elliman Report,” which analyzes home sales on a monthly basis, found June was a gut-punch for home sales for Palm Beach, Broward and Miami-Dade counties.

“Newly signed contracts declined annually for the fourth time as new listings have been added annually each month since September” in South Florida, per the report

Palm Beach County had the roughest June among the South Florida counties as there was a whopping 21.3% decrease in single-family home sales compared to June 2023. In raw numbers, that’s a drop from 347 home-sale contracts signed in June 2023 to 273 signed contracts closing on home sales a month ago.

Advertisement

Meanwhile, as home sales are dropping in Palm Beach County, the inventory on homes for sale is creating a glut in the market. The number of homes listed for sale in that county jumped to 1,016 in June, up from 865 a year ago, or a 17.5% increase.

Miami-Dade County fared a bit better in June, but not by much. There were 784 new signed single-family home contracts signed for sales in June. That’s a 17% drop from June 2023 when there 945 closed contracts on sales.

Miami-Dade is also seeing a glut in the market, with 958 new single-family home listings last month. That’s an 18.3% jump from a year ago, when there were 810 listings.

Broward County’s home sales slump was less dramatic, but still ended up in the negative side of the ledger. There were 417 closed contracts on single-family home sales last month, which is a 6.5% slide from a year ago when there were 446 homes sold.

The rush to list more houses for sale in Broward County was the most substantial in all the South Florida counties. There were 1,118 new homes listed for sale in June, a big jump over June 2023, when there were 862 new listings which is a staggering 29.7% increase.

Advertisement

Condominium sales were also hurting in South Florida in June. All three counties recorded at least a 26% drop in condo closed contract sales last month compared to June 2023.

The South Florida home sale slow-down is reflective of some other areas of Florida. The Northeast Florida Association of Realtors (NEFAR) released its monthly home sales report last week.

In a six-county area, there was a notable drop in sales for the First Coast in June. There were 1,097 total closed single-family home sales in Northeast Florida in June, a 14.7% decline from the 2,236 closed purchases in May 2023.

Post Views: 0



Source link

Advertisement

Florida

Dog days! More crazy heat and storms in Central Florida

Published

on

Dog days! More crazy heat and storms in Central Florida


ORLANDO, Fla. – Rain coverage Thursday across Central Florida will increase slightly compared to Wednesday as a bit more moisture returns to the area.

Sea breezes look to be more active as they develop in the early afternoon and collide along I-4. Storm coverage remains at 40-50%, with the threat for some heavy downpours, lightning and gusty winds.

In the meantime, the above-average temperatures will be widespread from coast to coast, with highs climbing into the mid- to low 90s. Peak heat indices will reach 103-106 degrees for several hours Thursday afternoon.

By Friday and into the weekend, the dry air will be taken over with moisture, increasing the chances for storm development over the next few afternoons. Storm coverage is forecast to remain elevated at 60-70%.

Advertisement

Longer-range forecast models show deeper tropical moisture moving in from the Southeast, which could be associated with a weak tropical wave. If this forecast verifies, slightly higher rain chances could climb past 70% by Monday and Tuesday.

Copyright 2024 by WKMG ClickOrlando – All rights reserved.



Source link

Advertisement
Continue Reading

Florida

Hospitals in Florida working to fill doctor shortage

Published

on

Hospitals in Florida working to fill doctor shortage


With a growing population and many doctors aging out of practice, Florida is doing what it can to attract physicians. Hospitals, meanwhile, are coming up with their own creative approaches to filling the need.

Show more



Source link

Continue Reading

Florida

DeSantis urges Florida Republicans at RNC to ‘get engaged’ on abortion, recreational marijuana amendments on ballot

Published

on

DeSantis urges Florida Republicans at RNC to ‘get engaged’ on abortion, recreational marijuana amendments on ballot


MILWAUKEE, Wis. – Gov. Ron DeSantis isn’t worried about whether Donald Trump can win Florida. The Republican governor, who was once a challenger to Trump’s nomination, practically guaranteed that the Sunshine State would go to the former president during a speech Wednesday at the Florida GOP delegation breakfast at the Republican National Convention.

REPLAY: Watch Gov. DeSantis’ full speech to the Florida GOP delegation in the video player above

What DeSantis is worried about, however, are two amendments to the state constitution that will be on the ballot in November.

Amendment 3 would legalize recreational marijuana in Florida and Amendment 4 would remove abortion restrictions up to 24 weeks.

Advertisement

Currently, Florida has legalized medical marijuana and abortion is restricted to 6 weeks, before many people know they are pregnant.

DeSantis said the abortion amendment “is wrong.”

“That is something that we have to defeat,” he told the room of Republican leaders from his state. “It’s never the wrong time to just do what’s right.”

DeSantis spent more time arguing against the recreational marijuana amendment, saying similar laws in other states have not delivered on promises of decreased drug trafficking and increased public safety.

“We’ve seen it in practice in a lot of these places. It hasn’t delivered what they said it was going to deliver,” DeSantis said. “It’s not good for quality of life.”

Advertisement

How would recreational marijuana legalization in Florida affect the court system? Duval’s public defender weighs in | DEA pushes to reclassify marijuana as a less dangerous drug. But what does this mean for Florida?

DeSantis also expressed concern that the way Amendment 3 is written, restrictions put in the constitution for medical marijuana would be stripped away.

“It’s going to affect quality of life, even if you have no interest in it,” he said.

The governor also pointed to what he called “corporate protectionism” language in the amendment, which he said is backed by a single company — Trulieve — that already does medical marijuana business in Florida.

In general, DeSantis called the ballot process for amending Florida’s constitution “a farce” because voters see only an approved summary and not the text of the actual amendment.

Advertisement

“Imagine having to vote on one of the amendments to the federal constitution and not knowing what the text was,” DeSantis said.

He urged the Florida delegation to “get engaged” on the amendments when they return home from the convention.

“A lot of voters don’t pay close attention to this. There’s going to be a lot of advertising on it,” DeSantis said. “I think if Republicans are united on these, I don’t think there’s any way they could get to 60%.”

In Florida, amendments on the ballot must be approved by 60% of voters or more to become part of the constitution.

Advertisement

Copyright 2024 by WJXT News4JAX – All rights reserved.



Source link

Continue Reading

Trending