Miami led metropolitan areas in the percentage of all-cash sales during the first quarter of 2015 with 51.5 percent. “Miami real estate is a magnet for world money. We continue to see strong investment from our South and Central American neighbors and also strong Canadian interest,” Mike Pappas, CEO and president of the Keyes Company, said in a press release. “Safety, lifestyle and future appreciation are driving the cash buyers.”
Sarasota, Cape Coral, Tampa and Lakeland trailed behind.
February foreclosure rates and mortgage delinquency rates: CoreLogic
Foreclosure rates in Miami-Dade were down year-over-year in February by 3.64 percentage points to 4.2 percent. Miami-Dade ranked higher than the national foreclosure rate, which was 1.43 percent in February. Also on the decline: the county’s mortgage delinquency rate.
REIT deal volumes driving hotel values: STR Analytics 2015 Transaction Almanac
Real estate investment trusts represented one out of every four hotel acquisitions in 2014, HotelNewsNow reported, a slight decrease from 2011, when REITs accounted for more than one-third of hotel purchases. Chesapeake Lodging Trust and Chatham Lodging Trust were among the top major public hotel trusts with properties in South Florida.
March construction activity in the tri-county region: Dodge Data & Analytics
Construction contracts awarded year-over-year increased by 39 percent in South Florida — from $1.7 billion in 2014 to $2.3 billion in 2015. Nonresidential contracts saw the higher cumulative increase — a 57 percent change to $838 million in 2015.
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