Residential Real Estate News
Top Residential Real Estate News
Zombie Properties Increase in U.S. as Foreclosure Activity Grows in 2023
1.3 million (1,277,612) residential properties in the United States are vacant. That figure represents 1.3 percent, or one in 79 homes, across the nation - the same as in the second quarter of this year.
Share of Investor-Owned U.S. Homes Remains High in 2023
The sizable U.S. home investor share of ownership seen over the past two years held steady going into the summer of 2023. In March 2023, investors accounted for 27% of all single-family home purchases; by June, that number was almost unchanged at 26%.
Greater Orlando Area Home Sales Down 14 Percent Annually in July
According to the Orlando Regional Realtor Association, overall residential sales fell 8.7% from June to July 2023. There were 2,852 sales in July, down from 3,124 sales in June. Sales in July 2023 were also 13.8% lower than July 2022, when there were 3,309 sales.
Miami Residential Sales Dip 13.6 Percent Annually in July as Prices Still Rise
Based on new data by the Miami Association of Realtors, Miami-Dade County area total home sales decreased 13.6% year-over-year in July 2023, from a historic 2,375 transactions in July 2022 to 2,051 in July 2023, because of elevated mortgage rates and lack of supply in certain price points.
