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LYSAKER, NORWAY and NEW ORLEANS, Aug. 22, 2023 /PRNewswire/ — AMSC ASA (“AMSC”) and Maritime Partners, LLC today announced that AMSC and Project Merchant Acquisition LLC (the “PM Acquisition”), a newly-formed company owned and controlled by a fund managed by Maritime Partners, LLC, have…
“Even with mortgage rates at 20-year highs, Miami real estate continues to show rising single-family pending sales and increasing condo luxury sales,” MIAMI Chairman Ines Hegedus Garcia said. “It’s a testament to South Florida’s market fundamentals—high percentage of cash buyers, rising year-over-year population – but a lack of inventory, particularly new listings, is impacting further growth for this high-demand market.”
Miami-Dade Single-Family Pending Sales Rise for Second Consecutive Month
It’s difficult to compare today’s home transactions to the roaring 2021-22 era, when mortgage rates hit an all-time low of 2.65%, a worldwide pandemic led to the expansion of remote work and a pandemic-fueled housing boom registered historic sales.
Miami total home sales decreased 13.6% year-over-year in July 2023, from a historic 2,375 transactions in July 2022 to 2,051 in July 2023, because of elevated mortgage rates and lack of supply in certain price points.
Most of the homes purchased in July 2023 came to terms in June when mortgage rates peaked at 6.71%. Rates, in comparison, were at 5.09% on June 2, 2022. Even with the elevated rates, Miami-Dade single-family pending sales rose for the second consecutive month, increasing year-over-year from 1,016 to 1,032 transactions.
Home sales are sensitive to mortgage rate changes. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.09% as of August 17. That’s up from 6.96% the prior week and 5.13% one year ago.
“Miami-Dade’s price growth of over 10% is phenomenal at a time when mortgage rates are hovering at 7%, a strong indication of the pent-up demand that’s going to burst out as mortgage rates trend lower in 2024,” MIAMI REALTORS® Chief Economist Gay Cororaton said. “It’s tempting for buyers to wait for interest rates to decline. But keep in mind that there’s a shortage of homes for sale so prices are not likely going to fall, and expect buyer competition to intensify in 2024 as mortgage rates decline.”
Miami single-family home sales decreased 8.9% year-over-year, from 999 in July 2022 to 910 in July 2023 because of its comparison to a historic month and the current market has lower inventory in specific price points and higher rates.
Miami existing condo sales decreased 17.1% year-over-year, from a historic 1,376 in July 2022 to 1,141 in July 2023, due to lack of inventory and rising mortgage rates.
Miami Home Prices, Household Income Rise with Wealth Migration
Miami-Dade County single-family home median prices increased 10.8% year-over-year in July 2023, increasing from $570,000 to $631,670. Miami single-family median prices have risen for 140 consecutive months (11.7 years), the longest running-streak on record. Existing condo median prices increased 10.5% year-over-year to $420,000 from $380,000. Condo median prices have stayed even or increased in 140 of the last 146 months.
Miami ranks No. 4 in the U.S. annual home price appreciation, according to the latest US CoreLogic S&P Case-Shiller Index.
Historically, a market with less than 6 months of supply will have appreciating prices. Miami single-family homes and existing condos are at 3.2 and 5.1 months, respectively.
Local home prices have risen with South Florida’s wealth migration. In-migration boosted South Florida household income by $16 Billion in 2021, according to MIAMI REALTORS® analysis of the 2020-2021 migration data released by the Internal Revenue Service.
New households moving into Miami-Dade in 2021 had an average adjusted gross income of $229,300. New households moving into Broward County had an average adjusted gross income of $102,600. New households moving into Palm Beach County had an average adjusted gross income of $242,200.
Miami-Dade County’s population increased year-over-year in 2022, according to new U.S. Census Bureau population estimates. Miami-Dade is one of only 11 counties in the U.S. that are back to positive population growth in 2021-2022 after pandemic-driven population declines impacted the entire country, according to a new Brookings Institute report.
Miami-Dade Inventory, New Listings Still Near All-Time Lows
The monthly historical average for Miami-Dade inventory is 20,302 and current inventory is at 8,964. Total inventory is down 59.1% from pre-pandemic (July 2019), from 21,906 to 8,964.
Total active listings at the end of July decreased 10.1% year-over-year, from 9,973 to 8,964.
Inventory of single-family homes decreased 23.3% year-over-year in July 2023 from 3,727 active listings last year to 2,860 last month. Condominium inventory decreased 2.3% year-over-year to 6,246 from 6,104 listings during the same period in 2022.
New listings of Miami single-family homes decreased 23.4% to 1,255 from 1,639 year-over-year. New listings of condominiums decreased 18.2%, from 2,109 to 1,726 year-over-year.
Months’ supply of inventory for single-family homes increased 3.2% to 3.2 months year-over-year, which indicates a seller’s market. Inventory for existing condominiums increased 54.5% to 5.1 months, which also indicates a seller’s market. A balanced market between buyers and sellers offers between six- and nine-months supply.
Nationally, total housing inventory at the end of July was 1.11 million units, up 3.7% from June but down 14.6% from one year ago (1.3 million). Unsold inventory sits at a 3.3-month supply at the current sales pace, up from 3.1 months in June and 3.2 months in July 2022.
Miami Real Estate Posts $250.2 Million Local Economic Impact in July 2023
Every time a home is sold it impacts the economy: income generated from real estate industries (commissions, fees and moving expenses), expenditures related to home purchase (furniture and remodeling expenses), multiplier of housing related expenditures (income earned as a result of a home sale is re-circulated into the economy) and new construction (additional home sales induce added home production).
The total economic impact of a typical Florida home sale is $122,000, according to NAR. Miami-Dade sold 2,051 homes in July 2023 and had a local economic impact of $250.2 million.
Miami total dollar volume totaled $1.59 billion in July 2023. Single-family home dollar volume decreased 17.6% year-over-year to $846 million. Condo dollar volume decreased 5.4% year-over-year to $746 million.
Miami Distressed Sales Remain Low, Reflecting Healthy Market
Only 1.3% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, lower than 1.7% in July 2022. In 2009, distressed sales comprised 70% of Miami sales.
Short sales and REOs accounted for 0.3% and 0.9% year-over-year, respectively, of total Miami sales in July 2023.
Miami’s percentage of distressed sales are on par with the national figure. Nationally, distressed sales represented 1% of sales in July 2023, virtually unchanged from last month and the prior year.
Miami Median Price Appreciation Outperforming Nation, State
In Florida, closed sales of single-family homes statewide totaled 22,198 in July 2023, down 6.4% year-over-year, while existing condo-townhouse sales totaled 8,463, down 9.4%. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
Nationally, total existing-home sales transactions waned 2.2% from June to a seasonally adjusted annual rate of 4.07 million in July. Year-over-year, sales slumped 16.6% (down from 4.88 million in July 2022).
The statewide median sales price for single-family existing homes was $415,000, up 0.7% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $319,000, up 4.6% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.
Nationally, the median existing-home price for housing types in July was $406,700, an increase of 1.9% from July 2022 ($399,000). Prices rose in the Northeast, Midwest and South but were unchanged in the West.
Miami Real Estate Attracting Near List Price
The median percent of original list price received for single-family homes was 97.2% in July 2023, down from 99% last year. The median percent of original list price received for existing condominiums was 96.4%, down from 99% last year.
The median number of days between listing and contract dates for Miami single-family home sales was 24 days, up from 17 days last year. The median time to sale for single-family homes was 68 days, up from 62 days last year.
The median number of days between the listing date and contract date for condos was 32 days, up from 20 days. The median number of days to sale for condos was 77 days, down from 64 days.
Miami Cash Sales 52% More than National Figure
Cash sales represented 39.6% of Miami closed sales in July 2023, compared to 41.3% in July 2022. About 26% of U.S. home sales are made in cash, according to the latest NAR statistics.
Cash buyers are not deterred by rising rates. The high percentage of cash buyers reflects Miami’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash as well as some moving from more expensive U.S. markets who can buy more with their profits from real estate sales.
Cash sales accounted for 50.2% of all Miami existing condo sales and 26.4% of single-family transactions.
To access July 2023 Miami-Dade Statistical Reports, visit http://www.SFMarketIntel.com
Note: Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.
About the MIAMI Association of Realtors®
The MIAMI Association of Realtors (MIAMI) was chartered by the National Association of Realtors in 1920 and is celebrating 103 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations: MIAMI RESIDENTIAL, MIAMI COMMERCIAL; BROWARD-MIAMI, a division of MIAMI Realtors; JTHS-MIAMI, a division of MIAMI Realtors in the Jupiter–Tequesta–Hobe Sound area; MIAMI YPN, our Young Professionals Network Council; and the award-winning MIAMI Global Council. MIAMI REALTORS represents nearly 60,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 256 international organizations worldwide. MIAMI’s official website is http://www.MiamiRealtors.com
Media Contact
Chris Umpierre, MIAMI Association of Realtors, 3054687047, [email protected], www.MiamiRealtors.com
SOURCE MIAMI Association of Realtors
Blitz Champz is the brainchild of Adrienne Smith, a serial entrepreneur and elite athlete in the sport of women’s tackle football. As a wide receiver, Smith has won two gold medals for the U.S. women’s national tackle football team, and six national championships for the Boston Renegades women’s tackle football team. Combining her passion for football and her creative genius, Smith has brought to life a kid- and family-friendly gaming experience that captures the essence of football while delivering thrilling gameplay for people of all ages.
“When I invented Blitz Champz in 2015, I envisioned securing a licensing deal with the NFL that would allow me to manufacture NFL-branded Blitz Champz card games so NFL fans throughout the country could show their team pride and enjoy repping their favorite NFL teams in a fun and interactive way,” said Smith. “Now that that vision has become a reality, I am overjoyed, as it has always been important to me that Blitz Champz be used as a vehicle to show that football is for all.”
The Blitz Champz NFL Collection will be available to NFL fans nationwide beginning in August 2023, just in time for the start of the 2023 NFL season. Blitz Champz NFL card games can be purchased online at blitzchampz.com, as well as at the merchandise stores located in select NFL stadiums. Teams such as the Los Angeles Rams, Seattle Seahawks, Las Vegas Raiders, Los Angeles Chargers, Pittsburgh Steelers, Green Bay Packers, New York Jets, and New England Patriots have provided team-branded Blitz Champz card games to their fans during training camps.
With its innovative gameplay, high-quality materials, and unparalleled attention to detail, the Blitz Champz NFL Collection is poised to set a new benchmark in sports-themed games. To celebrate the launch, Blitz Champz will host exclusive events and giveaways in select cities, offering fans a chance to experience the excitement firsthand.
About Blitz Champz:
Blitz Champz is a fun and competitive card game for football fans ages 7 and up. Created by Adrienne Smith, Boston Renegades Wide Receiver, football advocate and spokesperson, and entrepreneur, Blitz Champz is a fast-paced, action-packed game perfect for kids, families, and friends. Blitz Champz also reinforces math skills for students in grades 3-8 and can be used as a math learning tool for schools, and at home for fun and family bonding time. The game features 100 vibrantly-illustrated playing cards characterizing a diverse lineup of male and female players. The Blitz Champz NFL Collection features eye-catching, stylized designs that capture the essence of each of the NFL’s 32 teams. For more information, please visit www.blitzchampz.com.
For media inquiries, please contact: Yvette Feinberg, 212-769-9047, [email protected]
Media Contact
Yvette Feinberg, Gridiron Queendom, 1 212-769-9047, [email protected], www.blitzchampz.com
SOURCE Blitz Champz
When asked what inspired the author to write this book, Dent said, “I want everyone to experience ‘Wow God moments’ and grow in knowing God as a friend, BFF. I want my children and grandchildren, family and friends, and everyone to know God’s love and recognize His voice. I have learned so much about His character and how much He cares about every tiny detail of our lives. I have been amazed as I learn about God’s character to find He laughs, He gets mad, He protects, He fights for us, and so much more. He made us in His image and so we share characteristics and emotions. Like many, I have known rejection and betrayal in life, and I cannot fathom that the God of the Universe, the King of Kings and the Lord of Lords wants to be my friend and that He listens to me and wants me to spend time with Him. I want everyone to know that kind of love.”
Dawn April Dent is from Minnesota and grew up on a farm. She loved working with the animals and spending time outdoors. Her father was a pastor, and her mom was a great hostess and partner in her father’s ministry to serve others. At four years old, Dent asked Jesus to enter her heart, but it wasn’t until she turned sixteen that she experienced God as her friend. She has studied and led discussions about God’s Word and encouraged others to know God’s love for more than 40 years. Dent loves family time, animals, sports, music and the outdoors. She plays guitar, writes songs, and is energized by sharing about Jesus’ love with others.
Xulon Press, a division of Salem Media Group, is the world’s largest Christian self-publisher, with more than 15,000 titles published to date. Journey To Know & Hear Jehovah: 100 Day Devotional to Know God-Jehovah Through The Eyes and Experiences of Moses and God’s Law is available online through xulonpress.com/bookstore, amazon.com, and barnesandnoble.com.
Media Contact
Dawn April Dent, Salem Author Services, (910) 880-4619, [email protected]
SOURCE Salem Author Services
Approval enables process to pursue a transaction structure involving the sale of certain mCloud and AssetCare assets resulting in the separation of mCloud’s business in two standalone parts: one part to focus on AssetCare and a second to independently focus on NGRAIN-related business An…
The SBB Research Group Foundation has named Mandy Chen a STEM Scholarship recipient
CHICAGO, Aug. 21, 2023 /PRNewswire-PRWeb/ — The SBB Research Group Foundation named Mandy Chen a recipient of its STEM scholarship. The $2,500 award empowers students to create value for society by pursuing higher learning through interdisciplinary combinations of Science, Technology, Engineering, and Mathematics (STEM).
Mandy Chen, a freshman, studies Biomedical Engineering at Cornell University. In high school, Chen was a leader in the Society for Women Engineers Club. She is also a member of Project Exploration, a nonprofit organization that aims to give students in underserved communities the ability to participate in free STEM programs.
“Mandy is an outstanding example of the kind of student we look for when awarding this scholarship. She’s shown remarkable dedication to STEM,” said Matt Aven, co-founder and board member of the SBB Research Group Foundation.
For eligibility criteria and more information on the Foundation’s STEM scholarship, please visit http://www.sbbscholarship.org.
About the SBB Research Group Foundation
The SBB Research Group Foundation is a 501(c)(3) nonprofit that furthers the philanthropic mission of SBB Research Group LLC (SBBRG), a Chicago-based investment management firm led by Sam Barnett, Ph.D., and Matt Aven. The Foundation sponsors the SBB Research Group Foundation STEM Scholarship, supporting students pursuing Science, Technology, Engineering, and Mathematics (STEM) degrees. In addition to its scholarship program, the Foundation provides grants to support ambitious organizations solving unmet needs with thoughtful, long-term strategies.
Media Contact
Erin Noonan, SBB Research Group Foundation, 1-847-656-1111, [email protected], https://www.sbbscholarship.com/
SOURCE SBB Research Group Foundation
GEM®, the global gold standard for measuring gender bias in media and marketing, has now been expanded to digital planning and buying through ‘GEM® Audiences’ on Comscore’s Plan Metrix platform. NEW YORK, Aug. 21, 2023 /PRNewswire/ — ANA’s SeeHer, the largest global movement to eliminate…
Susan L. Heller, shareholder of global law firm Greenberg Traurig, LLP, was shortlisted by the Orange County Business Journal for the Women in Business Awards.
IRVINE, Calif., Aug. 21, 2023 /PRNewswire-PRWeb/ — Susan L. Heller, shareholder of global law firm Greenberg Traurig, LLP, was shortlisted by the Orange County Business Journal for the Women in Business Awards. The finalists will be announced Oct. 5 at an awards luncheon gala.
The award recognizes exceptional business and professional women who have made significant contributions to their organizations, their professions, and the Orange County community, according to the publication.
Heller is co-managing shareholder of Greenberg Traurig’s Orange County office, co-chair of the firm’s global Trademark & Brand Management Group, and past co-chair and current senior advisor to the firm’s Women’s Initiative. She is consistently recognized by numerous periodicals and organizations as having one of the preeminent and most innovative international trademark practices in the country, publications such as Chambers, Managing IP magazine, the Daily Journal, and World Trademark Review, to name a few. When the stakes are high and critical brands are at risk, Fortune 500 companies, world champion athletes, high-net-worth individuals, A-list celebrities, and highly visible pre-initial public offering companies turn to Heller for her strategic thought leadership and counsel, honed by three decades of experience. In 2020, Heller was selected to be a member of the prestigious United Nations’ Artificial Intelligence Initiative (AI For Good), joining an elite team of law firm leaders, international business executives, university deans, and UN thought leaders. She also serves on the Board of Visitors at the University of California, Irvine School of Law, the Dean’s Advisory Board of the University of California, Irvine’s Merage School of Business, the President’s Council of Cornell Women, and on the Board of Human Options, an organization whose mission is dedicated to ending the cycle of domestic violence.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2650 attorneys in 45 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 5.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: http://www.gtlaw.com.
Media Contact
Sarah Mirza, Greenberg Traurig, +1 310.586.7875, [email protected], gtlaw.com
SOURCE Greenberg Traurig
I hope to share the love and light of Christ through these precious dreamland journeys,” said Hastings. “Children are participants in the dream and are gently cradled to sleep in the Lord’s arms of Love.”
Hastings began creating these stories for her grandchildren, and has published the most recent ones, “Vincent’s Dream Beach Fun with BFF’S” and “Vincent’s Dreamy Freeze Ice Cream Parlor.” She also illustrates the entire book herself. Each page has a large full color drawing, 40 of them in “Book 7.”
“Through a daily scripture, the Holy Spirit led me in creating these delightful stories of adventure, creativity, fellowship, love, laughter and fun, all the while drawing the readers to know Christ,” said Hastings.
“Granmama’s and Vincent’s Dreamland Journey Book 7: Vincent’s Dream Beach Fun with BFF’S”
By Diana Hastings
ISBN: 9781489746573 (softcover); 9781489746566 (hardcover); 9781489746580 (electronic)
Available at LifeRich Publishing, Amazon and Barnes & Noble
About the author
Diana Hastings owns and operates Dance Infinity, a dance school, together with her daughter, for over 45 years. She has two children and two grandchildren, and currently resides in Brownsville, Texas.
To learn more, please visit http://www.liferichpublishing.com/en/bookstore/bookdetails/850251-granmamas-and-vincents-dreamland-journey-book-7.
Media Contact
Ziggy Goldfarb, LAVIDGE, 4803067065, [email protected]
SOURCE LifeRich Publishing
Employees nominate charities within their communities to receive financial and volunteer support as part of annual campaign, now it its 14th year
NASHVILLE, Tenn., Aug. 21, 2023 /PRNewswire-PRWeb/ — International Scholarship and Tuition Services, Inc. (ISTS) has named Friends of MACC and Nashville Diaper Connection recipients of the 2023 Starfish Campaign awards, the company’s annual giving initiative.
In selecting these organizations as recipients, ISTS commits to volunteer engagement from staff throughout the year as well as a one-time monetary contribution.
Friends of MACC is a volunteer-led nonprofit organization that works directly with Metro Animal Care and Control (MACC), Nashville’s only open admission shelter that serves nearly 7,000 homeless animals each year. Friends of MACC strives to amplify MACC’s impact by providing resources, financial support and increased awareness of MACC’s lifesaving initiatives including the Foster Program, Safety Net Program and Emergency Medical Fund.
Nashville Diaper Connection is a nonprofit diaper bank that that distributes free diapers to families in need through a network of partner agencies in Middle Tennessee. Through drives, wrapping events and other volunteer activities, NashDiaper provides diapers to an average of 4,500 babies in need each month in support of its “No Child Wet Behind” mission.
Through the Starfish Campaign, ISTS has donated nearly $20,000 to more than 35 organizations since 2010. Read more about the Campaign’s history and past recipients at applyISTS.com/about/Community.
About International Scholarship and Tuition Services, Inc. (ISTS)
Founded in 1985, International Scholarship and Tuition Services, Inc. provides comprehensive management of educational assistance programs, including scholarships, grants, loan repayment and tuition reimbursement. ISTS is a 100% women-owned company, focused on offering innovative technology and sustainable solutions to corporations, foundations, associations, unions and other organizations worldwide.
Media Contact
Carissa Willcoxon, International Scholarship and Tuition Services, Inc., 615-777-3735, [email protected], https://www.applyISTS.com
SOURCE International Scholarship and Tuition Services, Inc.
