Market Updates

Vows to Keep Rates Low for Longer Under Its New Flexible Inflation Targeting Regime. At the conclusion of the regularly scheduled meeting of its Open Market Committee, the Federal Reserve confirmed its decision to keep the target range for the federal funds policy rate between 0 and 0.25% to help the U.S. economy recover from the coronavirus pandemic. The Fed also provided strong forward guidance,...

Rent collection is softening in Miami, according to the National Multifamily Housing Council. Apartment rent collections during the coronavirus pandemic are unfolding as a deterioration rather than a collapse that some industry executives expect to keep worsening in coming months. Learn more here: Article...

Delray Beach Market...

"More promising news for Palm Beach County! We are starting to see the housing market move towards normalcy. Although real estate was quickly deemed essential early in the pandemic, the virus did play a role in our numbers. Most would assume that the market would be derailed after months of social distancing, but new statistics point to a v-shaped recovery. There were 1,478 closed sales in June, which...