Rent growth picks up again in February
After a brief cooling period, average rents have begun rising again in Miami and most of the rest of the nation. According to the Zillow Rent Index updated for February, rent grew at an annual rate of 2.8 percent in the Miami-Fort Lauderdale metro area, to a median of $1,918 per month. For comparison, the median rent nationally was $1,472 as of February, growing at a 2.4 percent annual rate.
Analysis from Zillow paints this as something of a correction after last year’s stagnant or even declining rents seen in much of the U.S.
“In September and October, the U.S. median rent was lower than it had been the previous year – the first time the market had posted annual declines since July 2012,” Zillow economist Jeff Tucker wrote. “Now that rent growth has picked up again – to a moderate pace compared to the breakneck growth of earlier years – it appears we’re in for a more vanilla, slow-growth market going forward.”
Hopkins Team grows with new recruit
The Hopkins Team at Coldwell Banker announced the addition of Realtor David Lane to their group. Previously, Lane worked at Coldwell Banker’s Hollywood office and was ranked a top five producer between 2012 and 2018. He specializes in home buyers, resales, investment property, distressed properties, luxury homes and international real estate. “We are very pleased that David has joined our team,” said team leader Dondi Hopkins. “One of the top agents in Florida, he provides exemplary client service and professionalism, incredible knowledge of the South Florida real estate market, and years of experience.”
William Raveis president honored
Ryan Raveis, president of William Raveis’s mortgage arm, has been named one of “The Nation’s Top 100 Most Influential Mortgage Executives of 2018” according to Mortgage Executive Magazine, marking his fifth consecutive year on the list. Regional vice president and mortgage banker with WRM Andrew van Dyk has also been recognized by the magazine with the 2018 Top 1 percent Mortgage Originator Award for the seventh consecutive year. The award is given annually to mortgage originators who close at least $30 million in loans. “We are proud to be honored among the elite mortgage bankers in the country,” said Raveis. Raveis has also been named one of the “Most Influential Leaders in the Residential Real Estate Industry” by Swanepoel Power 200 for the last three years.