Those waiting on the sidelines to buy a new home are counting on prices to start declining in the near future. A new report from Goldman Sachs shows that these would-be-buyers are making a costly decision, as the investment bank projects home prices to jump another 16% by the end of 2022.
And renting is not the solution, as Goldman Sachs also predicts that rents will keep climbing.
This projection follows price increases of 20% over the past year. Goldman Sachs cites “continued strong demand among buyers and ongoing low inventory” as drivers for continued increases. Its model examined supply, demand, affordability and housing prices to determine the projection.
We are already seeing this play out in Greater Miami, where local MLS data shows that active inventory is down nearly 25% year-over-year. Savvy buyers are acting now to purchase Merrick Manor condominiums before the luxury Coral Gables building completely runs out of available residences.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit the Sales Gallery on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.