Call Agent
  • Exclusive Listings
  • Search Homes
  • Contact
  • 305.775.5330
  • Menu

Rebound: Real Estate markets

While economic downturns typically aren’t good news for the real estate market, this is the first in American history to result in more people moving. This opportunity is transformative because unlike past cataclysmic events that have limited mobility, this one has increased it — and at Compass, we are helping our clients seize the opportunity. 


Even my colleagues based in one of the few markets experiencing uncharacteristic lulls know that activity will pick back up because of the way people are seeing the value of their home in a new light. Everyone is taking this time to reevaluate what they need in a home and in a community and for many, that’s resulting in a desire to move.


Here are 5 trends we’re seeing nationally that indicate the market is making a comeback.


1. Mortgage rates reached an all-time low in July, causing a spike in mortgage applications: finally dropping below 3% after weeks of speculation, rates settled around 2.87% bringing buyers out of the woodwork. There was a 33% increase in mortgage applications for the first week of July vs. this time last year. 


Source: Mortgage Bankers Association Index  

2. National home sale activity rebounded: Existing-home sales in June rebounded 20.7% month over month, the highest monthly increase ever recorded. 


Source: Wall Street Journal

3. Home prices are at all-time highs: Median existing-home prices grew 2.8% to hit an all-time high, for the 100th consecutive month, highlighting the opportune environment for sellers. 


Source: National Association of Realtors

4. Homes are selling at the fastest rate ever recorded: 20 average days on market before sale. 


Source: Inman

5. Homebuilder sentiment is at 72: Increasing by 14 points in July, the last time we had a yearly average as high as 72 was in 1999. 


Source: National Association of Homebuilders

Work With Us

Carole believes that our homes are an important part of our lives, giving us shelter, security, and a means of self-expression.

Separate from the constraints of necessity, many homes are a microcosm for the things we hold most dear — family, memories, relaxation and sense of belonging.

Contact Us
Follow Us on Instagram
Carole Smith Team

South Florida Luxury Real Estate Specialists

Contact Us

305.775.5330
4699 Ponce de Leon Blvd.,Coral Gables, FL 33146

Location

Get Directions

Website designed and developed by Luxury Presence. View our Disclaimer

Copyright 2023 | Privacy Policy
Carole Smith Team
{ "items": [ { "name": "Home", "action": { "name": "link", "actionValue": "/" } }, { "name": "About Carole", "action": { "name": "link", "actionValue": "/about" } }, { "name": "Properties", "subItems": [ { "name": "Featured Properties", "action": { "name": "link", "actionValue": "/properties/sale" } }, { "name": "Recent Sales", "action": { "name": "link", "actionValue": "/properties/sold" } } ] }, { "name": "Meet Team", "action": { "name": "link", "actionValue": "/page/meet-the-team" } }, { "name": "Home Search", "action": { "name": "popup", "actionValue": "#modal-search" } }, { "name": "Home Valuation", "action": { "name": "link", "actionValue": "/page/home-valuation" } }, { "name": "Compass Concierge", "action": { "name": "link", "actionValue": "/page/compass-concierge" } }, { "name": "Compass Bridge Loan", "action": { "name": "link", "actionValue": "/page/bridge-loan-services" } }, { "name": "Neighborhoods", "action": { "name": "link", "actionValue": "/communities" } }, { "name": "Press & Media", "action": { "name": "link", "actionValue": "/page/press-and-media" } }, { "name": "Testimonials", "action": { "name": "link", "actionValue": "/page/testimonials" } }, { "name": "Blog", "action": { "name": "link", "actionValue": "/blog" } }, { "name": "Video Gallery", "action": { "name": "link", "actionValue": "/page/video-gallery" } }, { "name": "Open House Schedule", "action": { "name": "link", "actionValue": "/page/open-house-schedule" } }, { "name": "Contact", "action": { "name": "popup", "actionValue": "#modal-contact" } }, { "name": "My Account", "action": { "name": "popup", "actionValue": "#modal-account" } } ] }
  • Home
  • Properties
    • Current
    • Sold
  • About
  • Communities
  • News
  • Contact
  • MLS Search
  • Testimonials
  • Meet the Team
  • Press and Media
  • DIANA RODRIGUEZ
  • KEFRYN REESE
  • CLODAGH MICHEL
  • SARAH ALAYON
  • Cristina Reviews
  • Community Involvement
  • Upcoming Open Houses old
  • My Account
Carole Smith Team - MIGRATED TO V3

Properties

Featured Properties

Recent Sales

some-content
Enter a city or neighborhood

Quick Links
  • View Our Exclusive Listings
  • View Our Sold Listings

OR CLICK AN AREA TO START YOUR SEARCH
{{neighborhood.name}}
{{neighborhood.name}}
Carole Smith Team

My Account

{{accountCtrl.error}}
Reset Password

Enter your new password

{{accountCtrl.message}}
Create an Account

Register to create a personal portfolio where you can save your listings.

Already registered? Log in here
Log in to My Account

Access your saved properties and settings.

Remember me

Forgot PasswordBack to register page
Reset Password

Enter your email to reset you password

{{accountCtrl.message}}

Back to login page
By registering, I agree to the Privacy Policy and Cookie Policy, and I understand I will receive marketing communications from which I may unsubscribe using the links provided.

Saved Properties

{{accountCtrl.auth.user.userdata.saved_listings_and_properties.length}} Results
{{accountCtrl.error}}
{{listingOrProperty.address}}
{{listingOrProperty.address}}
{{listingOrProperty.price | currency}}

Saved Searches

{{accountCtrl.auth.user.userdata.saved_searches.length}} Results
{{search.neighborhood.name}}
{{search.time | date: 'dd/MM/yyyy'}}

My Account

{{accountCtrl.auth.user.userdata.name}}
{{accountCtrl.auth.user.userdata.email}}
Log out
Carole Smith Team

Contact

Online Inquiry
Thanks for submitting Inquiry
{{formErrors.name.message}}
{{formErrors.email.message}}
{{formErrors.phone.message}}
{{formErrors.message.message}}
Contact Details

Tel: 305.775.5330


4699 Ponce de Leon Blvd., Coral Gables, FL 33146

South Florida Luxury Real Estate Specialists