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Is The Florida Real Estate Market Changed Permanently
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=UnywltGjFto
Did Florida Real Estate Market Just Change Forever • Is the Florida real estate market changing forever? Stay up to date with the latest housing market trends and updates in this video. Discover what the future holds for US real estate in 2024! • Over the past few years, Florida's real estate market has experienced significant fluctuations, transitioning from rapid growth to a more balanced state. Key trends include: • Home Prices and Sales Volume • Price Appreciation: Florida home values have risen by about 80% over the past five years, with a positive trend forecasted for the next five years. • NORADARE REAL ESTATE • Sales Volume: As of October 2024, closed sales decreased by 9.8% compared to October 2023, totaling 26,135 transactions. • NAPLES ED • Inventory Levels • Increased Inventory: Active inventory rose by 38.4% year-over-year as of October 2024, indicating a shift towards a more balanced market. • NAPLES ED • New Listings: The number of new listings has returned to pre-pandemic levels, providing buyers with more options. • FLORIDA REALTORS • Market Dynamics • Shift to Buyer's Market: The increase in inventory and longer time on the market suggest a transition from a seller's market to a more balanced environment. • HOME BUYING INSTITUTE • Price Reductions: Nearly a third of home sellers in certain Florida metros have reduced their asking prices due to increased competition and ballooning housing supply. • MARKETWATCH • External Factors • Insurance Costs: Rising insurance premiums, driven by frequent hurricanes and tropical storms, have made homeownership increasingly unaffordable, contributing to the market's cooling. • NEW YORK POST • Climate Risks: Concerns about climate change and its impact on coastal properties have influenced buyer behavior, with some opting for higher-elevation areas. • ARCHITECTURAL DIGEST • Regional Variations • Miami: Despite concerns about a potential housing bubble, Miami's real estate market remains robust, particularly in luxury waterfront properties attracting affluent buyers. • NEW YORK POST • Fort Lauderdale: Priced-out millionaires from Miami are flocking to Fort Lauderdale, leading to a real estate boom and significant price increases in the area. • NEW YORK POST • In summary, Florida's real estate market has transitioned from a period of rapid growth to a more balanced state, characterized by increased inventory, stabilizing prices, and shifting buyer dynamics influenced by external factors such as rising insurance costs and climate risks. • Subscribe / @exploringwithjimmyb • Email me with any questions. Email: [email protected] • Everything Real-Estate. Subscribe Today. Weekly Videos. • Comment Below: • Disclosure: • Please note that all the information provided on this YouTube channel or through it is meant for entertainment and educational purposes only. The owner of this channel, Jimmy Bitzas, is not a realtor, Mortgage Professional or a financial planner and cannot guarantee the accuracy of the information shared in this video. The information shared is subject to change, as is the nature of the fast-paced world we live in. Jimmy Bitzas cannot be held responsible for any errors in the information shared or any injuries or damages that result from the use of this information.
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