The Real Estate Wire | NEWS

As Florida's housing market shows signs of transition, buyers could soon gain leverage in negotiations. With rising inventory and a slight increase in median home prices, the landscape is evolving.

In November 2024, existing home sales surged 4.8% month-over-month, reaching 4.15 million units—significantly above projections. Housing inventory increased substantially, reflecting strong market resilience despite rising mortgage rates.

Existing-home sales rose 4.8% year-over-year in November 2024, despite record-high median home prices of $406,100. Inventory levels are stabilizing, but affordability issues persist as many buyers adapt to higher mortgage rates.

The Federal Reserve's recent quarter-point rate cut signifies complex dynamics for mortgage rates and the housing market. High borrowing costs and inventory shortages continue to challenge affordability despite a slight easing in rates.

As home prices continue to rise slowly despite past market challenges, experts predict modest value increases for 2025, with local market fluctuations based on unique conditions.

As home prices continue to rise slowly despite past market challenges, experts predict modest value increases for 2025, with local market fluctuations based on unique conditions.