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South Florida in a week: Aug 1-5

This week's South Florida news relating to the real estate industry

Need news in a flash? Here’s what’s happening in your community.

High-end buyers in and around Miami are benefitting from a bigger scope of for-sale homes, helping keep the overall supply in a healthy range. But a closer look from EWM Realty International’s Insight Report shows South Florida luxury properties flooding the market, while those under $300,000 are in only two months supply.

While the homeownership rate is now at its lowest level since the mid-‘60s, some regions of the U.S. offer affordable rents and strong employment rates to keep the American dream alive, accoridng to NAR, which says 41 percent of renters in Lakeland, Florida, have the ability to buy.

 

Climate research shows that sea levels could rise six feet by the year 2100, with a follow-up Zillow analysis saying it could impact $882 billion of U.S. housing stock. One in eight Florida homes are predicted to sink, accoridng to Zillow. Lost homes in the Sunshine State would account for nearly half of the predicted total value loss of $882 billion.

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Got a lead on some news happening in your community? Send information to local@inman.com