What’s happening in Florida’s housing market? Real estate is a vital part of the economy in the Sunshine State, and Florida Realtors® serves as the voice for real estate in Florida. In this Market Minute, Florida Realtors® Research Economist Dr. Brad O’Connor updates you on the state’s housing statistics and provides insight into what the numbers really mean.
The pace of growth for home sales has slowed appreciatively according to Florida Realtors. Single family home sales are up 2% and Condos are down 5%.
This is best described as investors have continued to decrease in their purchases of Florida homes.
Listings have not slowed. Homes continue to be listed at a steady pace. Prices continue to move upward showing there is a high demand for homes. There has been a 7.1% increase in price over the last year.