Is the housing market going to cool off in Florida?
That is the question EVERYONE is asking about the current Florida Real Estate market 🏡
Here's the high-level view.
In an article from realtor.com, Ali Wolf, chief
economist of building consultancy, Zonda said: “The fever in the housing market
has broken.”
“There have been buyers that have just been beaten down for the last six months—and after losing so many homes and going through
the emotional roller coaster, they’ve decided to stop searching for now. There
are more homes on the market than there were six months ago.”
In addition, in September, the median rate of
year-over-year growth was at 18.2 % at the peak in May 2021 it was at 27.3% according
to FloridaRealtors.ORG
Lawrence Yun, chief economist of the National
Association of Realtors® said things are
settling down. "There will still be some multiple offers, but it will be
less tense,”
He expects the days of homes receiving 20 to 30
offers are becoming a thing of the past. “And some homes are lingering on the
market for a week or two without an offer.”
As always, the Tom Wolf Team is here to keep YOU
in the loop on all things real estate so if you have a question about our local
market or would love to see some stats on HOW this could affect you as a seller, buyer, or investor just ☎️reach out to us we are here to help.!
