South Florida’s residential sales and dollar volume plunged in May, continuing a monthslong market slowdown. Dollar volume for Miami-Dade, Broward and Palm Beach counties dipped to $5.6 billion, down from $6.1 billion in May of last year, according to Multiple Listing Service data collected by the M

Gov. Ron DeSantis signed bills amending the state’s condo safety legislation, four years after the deadly Surfside collapse. On Monday, DeSantis signed House Bill 913 and House Bill 393 into law.  The June 24, 2021 collapse of Champlain Towers South killed 98 people overnight, ranging in age from ju

The Consumer Financial Protection Bureau (CFPB) cut short a five-year agreement with Bank of America over the bank’s alleged submissions of false mortgage data. The agreement was supposed to be in place through at least November 2028.In a filing made public Monday, the CFPB said the bank “fulfilled

The Federal Reserve has come under renewed fire from the Trump administration in recent weeks as the president and key housing officials battle with Chair Jerome Powell over the direction of interest rates.On Tuesday, while speaking to members of the House Financial Services Committee, Powell was re

Look at all the variables at play in the housing market and it’s hard not to feel pessimistic about the affordability crisis.Mortgage payments continue to increase thanks to high mortgage rates, home insurance premiums are on the rise in markets vulnerable to natural disasters and the rent is still

Palm Beach County saw an uptick in signed contracts for luxury homes last week.  Buyers signed 12 contracts between June 16 and June 22 for luxury properties in Palm Beach County, according to a market report authored by Douglas Elliman’s Eklund-Gomes team. Last week’s contracts reached $73.6 millio

Former condo association president Gregori Arzumanov, who is already facing a state racketeering indictment, was hit with federal charges for allegedly stealing more than $700,000 in building funds.  On June 6, a Miami federal grand jury indicted Arzumanov and a second defendant whose identity is re

Miami-Dade County’s condo sales and dollar volume surged in the third week of June, bucking the market’s traditionally slower summer pace.  Brokers closed 135 condo sales totaling $122 million from June 13 to June 21. The previous week, brokers closed 89 condo sales totaling $67.7 million.  Last wee

With mortgage rates still hovering near multi-decade highs, homeowners are opting to hold onto their ultra-low first mortgages. Instead of refinancing, they’re tapping into their equity through home equity loans and HELOCs to finance renovations, cover tuition, or consolidate high-interest debt. Len

The U.S. House of Representatives unanimously passed the Homebuyers Privacy Protection Act (H.R. 2808) late Monday, bringing a national ban on abusive trigger leads one step closer to reality. The move was widely applauded by mortgage trade groups.The House’s action follows the U.S. Senate’s approva

Anywhere Real Estate has appointed Barri Rafferty as its new chief communications officer and head of public affairs. In this role Rafferty will lead Anywhere’s public relations, communications, government relations, and events and productions functions.“I’m honored to take on a new challenge at Any

The North Bay Village Commission voted in favor of Continuum Company’s proposal for its Continuum Waterfront District, a two-phase, mixed-use development.  Commissioners unanimously approved at a meeting last week a special area plan, site plan and development agreement tied to the 2 million-plus-sq

Given the animosity between Compass and Zillow over the portal giant’s listing standards policy, it came as little surprise when the Robert Reffkin-helmed firm filed a lawsuit against Zillow Monday morning. While the complaint contains many of the anticipated claims, including that Zillow enacted th

Airlines diverted flights in the Middle East on Monday after Iran's armed forces said the country launched a missile strike on a U.S. military base in Qatar.

Global tensions between the United States and Iran have led many in the mortgage industry to wonder whether the bombing of Iran nuclear sites would move bond yields and lead to a drop in mortgage rates. On Monday, just as economists were factoring in the possibility of war with Iran, at least one me

The waterfront lot next to billionaire Jeff Bezos’ property in the exclusive Indian Creek Village sold for $105 million. Could Bezos be the new owner? Possibly.  Records show SMM Sunny Holding LLC, managed by Mikhail and Mariana Peleg, sold the 1.8-acre waterfront lot at 9 Indian Creek Island Road t

The May existing-home sales report from the National Association of Realtors (NAR) shows sales at just 4.03 million, a 0.7% decrease year over year and up 0.8% compared to April. It was the slowest May for existing home sales since 2009 and the fourth consecutive month with a year-over-year decline

A Venezuelan media mogul who U.S. authorities have charged with money laundering offloaded a Fisher Island condominium in a deal that stemmed from a legal filing in an anti-terrorism case. Planet 2 Reaching, a company tied to Venezuelan TV magnate Raúl Gorrín, parted with the 9,800-square-foot condo

Fair Isaac Corp. (FICO) will incorporate Buy Now, Pay Later (BNPL) data into two of its credit scores set to launch in Fall 2025. The company, which owns the rights to the market’s most widely adopted consumer credit risk assessment methodology, announced the move on Monday.The change will provide m

Rosie O’Donnell’s former Star Island estate in Miami Beach entered into contract last week, leading the Eklund-Gomes report. The waterfront mansion is on the market for $48 million.  Buyers signed 17 contracts for luxury properties in Miami-Dade County between June 16 and June 22, according to the r