Buckle Up! Alarming Trends Happening in the Florida Housing Market

Housing inventory is absolutely skyrocketing in Florida. For example, there’s more single-family homes for sale in May 2024 than any other month since April 2019 (inventory is at a 5-year high). Additionally, there’s 135% more homes for sale in Florida from just two years ago. What’s alarming about this is the fact that pending home sales (a measure of sales purchased being signed between buyers and sellers DECREASED by 2% from a year ago. Therefore, supply is far out-pacing demand in Florida which should be downward pressure on home prices in the months to come.

In today’s video, I share the latest developments for single-family home prices in Florida as well as pending home sales, share of cash sales, price reductions and much more. See links below for the reports I shared.

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Compilation of Housing Market Forecast videos:
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Source of the reports I went over in the video:
https://www.floridarealtors.org/tools-research/reports/florida-market-reports

https://altosresearch.com/

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30 yr fixed rate mortgage is around 7% for the current mortgage rates (at the time of filming this video for those with excellent credit).

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
jason@meetjasonwalter.com

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 01923240 and NMLS 2566691).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#FloridaHousingMarket #Florida #Floridahomes