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Florida home values have risen by about 80% over the past 5 years and a positive trend is forecasted for the next 5 years. With the recent spike in mortgage payments as a result of rising interest rates, analysts are watching the Florida housing market closely to see what effect this will have.
Florida Housing Market. Home prices in Florida were up 0.09% year-over-year in September. At the same time, the number of homes sold fell 14.4% and the number of homes for sale rose 30.8%.
Takeaway: In summary, the Florida housing market is anticipated to stabilize in 2025, with gradual price appreciation returning by 2026, supported by strong demographic trends and a recovering economy. However, the market will continue to face challenges related to mortgage rates and economic conditions. While the Florida housing market may ...
Most forecasts for Florida real estate in 2024, 2025 and 2030 are for lower interest rates, increasing demand for single-family homes and ultimately higher real estate prices.
Before delving into the Florida real estate forecast for the next 5 years, it’s constructive to take a closer look at the current Florida housing market, based on the latest Redfin data and most...
Looking ahead to 2024, state and national real estate experts expect Florida’s housing market to strengthen a bit, driven by population and business growth. “We are back to a pre-pandemic normal pattern of sales,” says Dr. Brad O’Connor, Ph.D., chief economist, Florida Realtors®.
ORLANDO, Fla. – Watch for the Florida real estate market to slowly start growing in 2024 as interest rates flatten and consumers begin realizing what they’re seeing is the new normal in prices and interest rates, Florida Realtors® Chief Economist Dr. Brad O’Connor said during the annual Florida Real Estate Trends Summit on Friday.
In this article, we’ll delve into the key trends and factors that will shape the future of Florida’s real estate landscape, focusing on Florida housing market predictions for 2023, 2024, and beyond. We’ll cover the following trends: Projected growth in home prices and sales; Emerging markets and hotspots within Florida
Florida Realtors closely monitors market trends, news and forecasts that impact the state’s real estate industry and Florida’s economy. Real property — building it, buying it, leasing it, selling it — generates revenue, creates jobs and contributes billions to the state’s economy.
Here’s what we know about the Florida real estate market, per the latest data (August 2023 numbers) on single-family homes reported by Florida Realtors: 22,917 closed sales in August...