Pending sales were up 2% year over year, while showing appointments were up 8%. While not all pending sales close, the metric is a good indicator of future transactions.

Two weeks after housing inventory turned negative, home prices posted a healthy increase, MarketNsight said. 

First-timers made up 45% of buyers in 2022 and 37% in 2021.

High mortgage rates and limited inventory continued to weigh on sales activity, National Association of REALTORS®Chief Economist Lawrence Yun said. 

Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

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Meanwhile, July’s home sale prices had their highest increase since November.

South Florida remains one of the most prominent ultra-luxury markets in the country, according to the 2023 Mid-Year Ultra-Luxury report from Compass.

Of survey respondents who made a wedding registry in the past two years, 85% said they would have preferred to receive money they could have used towards a down payment, mortgage payment or other associated homebuying costs.

The industry group issued its housing-market forecast along with its monthly Pending Home Sales Index for June. 

Luxury home sales increased drastically in South Florida between the first and second quarters.

“Builders in Cape Coral have not stopped — they’re just building like nothing happened,” said Redfin Premier agent Isabel Arias-Squires.

Year over year, housing inventory turned negative for the first time in 13 months in June, the real estate data provider said. 

Analyzing property listings from January 2020 to June 2023, Los Feliz found that Florida accumulated 1.7 million new listings at a rate of 20,665 per every 100,000 homes.

The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said.