What’s New in South Florida and the Treasure Coast Markets
Luxury Homes and Lifestyles – April 2024
Highlights:
- CHECK THE BLOG FOR MORE ARTICLES and Previous What’s New posts for prior articles
- 2022 New Conforming Loan Limits Increase to $647,200 for South Florida counties, FHA and VA limits are – $460,000 for Palm Beach County and $381,600 for St Lucie and Martin Counties. View the article for complete details.
- NEW 2024 Conforming Loan Limit Increase announced at $766,200.
- Expert Home Price Forecasts for 2024 Revised Up Over November 2023 Estimates
- Reasons Why We Are Not Headed For a Housing Crash
- The Home Buying Process – tips on property taxes, insurance and mortgage information.
- What House Can I Afford plus new real estate calculators added in the Mortgage Finance Center
- South Florida Area Market Reports for March 2024 / April Available by May 6th, 2024
- Here are some charts from John Hopkins University on Tracking Florida COVID -19 Cases and Deaths by Overall Totals and By Daily Totals – UPDATED DAILY
Expert Home Price Forecasts for 2024 Revised Up Compare to November 2023 Estimates
Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall.
A lack of housing inventory has been pushing prices up for a long time now – and that’s not expected to change dramatically this year. But what has changed a bit is mortgage rates.
Reasons Why We Are Not Headed For a Housing Crash
If you’re holding out hope that the housing market is going to crash and bring home prices back down, here’s a look at what the data shows. And spoiler alert: that’s not in the cards. Instead, experts say home prices are going to keep going up. The number of homes underwater actually decreased from last year.
Click the heading to see 3 updated graphs and information on 4 reasons why a crash won’t happen – Higher Loan Standards, Low Inventory and Low Number of Foreclosures, Equity is Much Higher. The number of homes underwater actually decreased from last year from 1.5% of mortgage holders down to 1.1.
The Home Buying Process
This page is being updated and expanded with more local information and tips on property taxes, insurance and mortgage information. Each State has different calculations for property taxes. See How Real Estate Property Taxes are Calculated in Florida.
How Much House Can You Afford?
Also visit the Mortgage Finance Center; main page for Mortgage programs, Affordability Worksheets and Calculators.
Market Trends Updates for March 31, 2024 / April Available May 6, 2024
View the updated Market Trends and Reports for various cities in Palm Beach County, St Lucie and Martin Counties. These reports automatically update around the 5th of the month so check back and keep up to date!
Tracking The COVID-19 Curve in Florida by Totals and Also Daily Totals
Here are some charts from John Hopkins University on Tracking the COVID -19 Cases and Deaths by Overall Totals and By Daily Totals. The Charts update daily about 9:00 PM
