What’s New in South Florida and the Treasure Coast Markets
Luxury Homes and Lifestyles – October 2019
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Stay up-to-date with this monthly post on general area news and website updates with links to relevant articles. I cover from Boca Raton to Port St Lucie, Vero Beach and the Treasure Coast and this running blog post will be updated throughout the month with brief summaries, breaking news and links to new pages or articles.
This post will be updated throughout the month, so come back and check for more info and other months’ posts in the What’s New in South Florida Waterfront Homes and Condos Blog category.
New articles and October Highlights:
Country Club Membership Costs Adjust October
Country Club Equity/ Capital Contributions and Annual Dues adjust October 1st or November 1st for most country clubs. I have been updating my country club pages over the month – adding and revising membership costs.
I am also expanding my pages to add more of the clubs: (updates are a work in progress, please check back for more information)
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- Boca Raton / Delray Beach Area – view the Boca Raton Golf Communities and Homes for Sale page for a summary of all the clubs and links to them.
- North Palm Beach County Country Clubs – this page will be updated to include golf communities in Palm Beach Gardens, North Palm Beach and Jupiter in the North County area.
- I will also be adding more clubs to my Palm City / Port St Lucie / Stuart cities in the Treasure Coast.
- I am providing brief summaries of costs on the website page but also have complete membership package downloads if you are interested in any communities – request downloads on each country club page or my Contact Isabella page.
- I visited Broken Sound this week and will be expanding the page by adding a summary of the “Villages”, describing types of homes, sizes and price ranges.
Freddie Mac September Forecast: Housing to Remain Strong Heading into the Fall
(click to read more details)
Sam Khater, Freddie Mac’s Chief Economist, says, “Despite fears of an economic slowdown, the housing market continues to be a bright spot in the economy. While mortgage rates have ticked up in recent weeks, they remain lower than they were a year ago which will help boost sales headed into the fall.”
Highlights:
- 30-year fixed-rate mortgage to remain below 4.0% for the remainder of 2019
- House price forecast expected to appreciate 3.4% through 2019
- Single-family housing starts forecast at 870,000 new homes in 2019 and 940,000 in 2020, respectively.
- Expect home sales to be slightly higher at 5.98 million in 2019, then 6.03 million for 2020.
- With low mortgage rates and strong refinance activity, expect slightly higher annual mortgage origination levels in 2019 and 2020.
Freddie Mac PMMS Interest Rate Surveys in October
I will be doing a monthly post to report on Freddie Mac’s weekly Interest Rate Survey, showing changes and issues that are influencing them.
- October 3 – 30 year fixed rate was 3.65%, went down to 3,57 on October 10th, then has ticked back up to 3.69 October 17th and now 3.75% October 24th, the highest it has been in 12 weeks. Read the post for more details on October 24th. Rates rose slightly again October 31st to 3.78 with .5 additional points.
- The Federal Reserve also dropped the Fed rate another .25 point or 25 basis points – the 3rd rate cut this year.
