Top Miami, Coconut Grove and Coral Gables Luxury Home Realtor, Ashley Cusack, has issued a report that reviews the impact that surging sales is having on inventory in the Miami real estate market.
For Buyers & Sellers, the
Best Realtor in Coconut
Grove, Coral Gables and
Miami
Top Miami, Coconut Grove and Coral Gables Luxury Home Realtor,
Ashley Cusack, released a report that evaluates the impact that
shrinking inventory is having on the hot Miami real estate market.
A recently released Q1 2021 report
from Berkshire Hathaway Home
Services, EWM Realty, discusses the
impact that the pandemic has had on
the South Florida market, as well as
likely future trends.
For almost five decades, the South Florida real estate market has been
a magnet for international visitors to establish residences throughout its
many communities.
The strengthening of the US Dollar against
most South American currencies since the
recession of 2008 has made it more
challenging for several of the former largest
South American buying regions to purchase
homes in the US.
While buyers from Venezuela, Brazil and Argentina comprised the top
three international buying groups for several years, sales to residents
of those countries have fallen dramatically in recent years.
Covid has certainly played a huge role over this
past year in slowing international sales, but it’s
expected that buyers from these markets,
particularly from South America, will return
once the vaccine has reached greater numbers
and the threat of COVID subsides
The strengthening of the US Dollar against most South American currencies since
the recession of 2008 has made it more challenging for several of the former
largest South American buying regions to purchase homes in the US.
While buyers from Venezuela, Brazil and
Argentina comprised the top three
international buying groups for several
years, sales to residents of those
countries have fallen dramatically in
recent years.
In the meantime, US domestic buyers motivated by the pandemic and the
ability to work remotely, will continue to be a significant factor in creating
new demand for housing of all types in Miami and surrounding
communities.
Areas in the South, such as Florida and Texas,
have seen a huge migration from heavily
populated urban centers. With the daily commute
seemingly a thing of the past, and workers having
flexibility to work from home, the distance between
home and work is no longer a material factor.
In South Florida, with its lack of land, the pandemic created a flight to single-family
homes, at all price points. By mid-March 2021, the overall inventory of single-family
homes under $1 million in Miami-Dade had shrunk to 1.9 months of supply.
There was 5.0 months of inventory at the
same time in March 2020, just before the
pandemic. the same periods, the months
of supply for homes in excess of $1 million
fell from 22.1 months to 5.1 months.
Contact Us At : https://ashleycusack.com/ or call 305-798-8685
Best Realtor in Coconut
Grove, Coral Gables and
Miami
Top Miami, Coconut Grove and Coral Gables Luxury Home Realtor,
Ashley Cusack, released a report that evaluates the impact that
shrinking inventory is having on the hot Miami real estate market.
A recently released Q1 2021 report
from Berkshire Hathaway Home
Services, EWM Realty, discusses the
impact that the pandemic has had on
the South Florida market, as well as
likely future trends.
For almost five decades, the South Florida real estate market has been
a magnet for international visitors to establish residences throughout its
many communities.
The strengthening of the US Dollar against
most South American currencies since the
recession of 2008 has made it more
challenging for several of the former largest
South American buying regions to purchase
homes in the US.
While buyers from Venezuela, Brazil and Argentina comprised the top
three international buying groups for several years, sales to residents
of those countries have fallen dramatically in recent years.
Covid has certainly played a huge role over this
past year in slowing international sales, but it’s
expected that buyers from these markets,
particularly from South America, will return
once the vaccine has reached greater numbers
and the threat of COVID subsides
The strengthening of the US Dollar against most South American currencies since
the recession of 2008 has made it more challenging for several of the former
largest South American buying regions to purchase homes in the US.
While buyers from Venezuela, Brazil and
Argentina comprised the top three
international buying groups for several
years, sales to residents of those
countries have fallen dramatically in
recent years.
In the meantime, US domestic buyers motivated by the pandemic and the
ability to work remotely, will continue to be a significant factor in creating
new demand for housing of all types in Miami and surrounding
communities.
Areas in the South, such as Florida and Texas,
have seen a huge migration from heavily
populated urban centers. With the daily commute
seemingly a thing of the past, and workers having
flexibility to work from home, the distance between
home and work is no longer a material factor.
In South Florida, with its lack of land, the pandemic created a flight to single-family
homes, at all price points. By mid-March 2021, the overall inventory of single-family
homes under $1 million in Miami-Dade had shrunk to 1.9 months of supply.
There was 5.0 months of inventory at the
same time in March 2020, just before the
pandemic. the same periods, the months
of supply for homes in excess of $1 million
fell from 22.1 months to 5.1 months.
Contact Us At : https://ashleycusack.com/ or call 305-798-8685