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Miami Real Estate Posts 10th-Highest Total Home Sales Month in History

Realty Biz

“Although top sales marks are still being achieved, higher rates are starting to restore balance to the market. Look for fewer bidding wars, more days on market, and a cooling of the growth rate of pricing in the months ahead.”. The average commitment rate across all of 2021 was 2.96%. in May 2021.

Sales 78
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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. Days on market (DOM). Got Clients With Interest Rate Questions?