How are you doing today? Are you still thinking of moving? Do you have a specific timeline?
December is a great time to move as the weather is cooler and most people have time off for the holidays.  Happy Hanukkah and Merry Christmas ! This year both holidays fall on the same date. Realtors now for the entire United States use a brokerage agreement when taking out a client. This brokerage agreement is required by the National Realtors Association.

One of the major influences on mortgage rates has been the presidential election which has now ended. The newest concern is President-elect Donald Trump's economic proposals which sent bond rates higher in November.  Another factor impacting mortgage rates is the existing budget deficits. Inflation remains high partially due to housing prices, which rose 3.8% annually in September. The Federal Reserve is expected to cut rates again in December 2024. Rates on 30-year mortgages ticked further down Monday, 12/2/24, with a third consecutive decline reducing the average mortgage rate to 6.66%. That's now the lowest level in six weeks.

There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. There has been a recent Florida Statewide slowdown in Florida's housing sales for a 12.3%  decrease due mainly to Category 4 Hurricane Helene in September 2024. Hurricane Milton reached the gulf side of Florida in October 2024 and Florida's Real Estate sales declined for the month by 5.6% from the previous year. October's Real Estate listings also fell by 10.3%.

 Meanwhile, Florida home prices were not affected by these hurricanes. For the month of October 2024 Broward County secured 1,001 closed sales. The tri-county area Miami- Dade, Broward and Palm Beach County encountered 2,883 closed sale while the entire state of Florida closed 18,617 properties. Real Estate is very emotional and the minute a holiday arrives or an unforeseen change appears, most people place their real estate needs on hold. People prepare for hurricanes well in advance of the storm, taking days away from their buying thoughts. Hurricane season ends November 30th and the cooler weather arrives which we all look forward to in South Florida.