The increase in new home sales shows they continue to be an appealing option. The average loan size for new homes rose to $402,658 in September. The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2024 shows mortgage applications for new home purchases increased 10.8% compared from a year ago. Compared to August 2024, applications decreased by 6%. This change does not include any adjustment for typical seasonal patterns.

Real estate professionals are building client loyalty and responding to needs among a quickly growing Hispanic demographic. Homeownership among Hispanic Americans is at an all-time high of 51%, according to the National Association of Realtors® 2024 Snapshot of Race and Home Buying in America. Over the past decade, some 3.2 million Hispanics have become homeowners — a 5.4% increase since 2012. Today, nearly 10 million Hispanic households own their own homes.

The Broward, Palm Beaches, and St. Lucie Realtors® are proud to announce their donation of $50,000 to the REALTORS® Relief Foundation. This contribution aims to support the communities affected by Hurricane Helene's devastating impact.

Starting October 1, 2024, there is a new flood disclosure requirement in Florida. Florida Statute 689.302 requires a seller to complete and provide a flood disclosure to a buyer of residential real property. This disclosure must be done at or before the time of a contract being executed.

You may encounter some questions when working with homebuyers due to the recent NAR Settlement changes. Here are some possible questions you may receive about written buyer agreements and ways to respond transparently and clearly, giving them peace of mind.