FL: Return of Buyer’s market
Long gone are the happy days when houses sold in minutes of listing in sunny South Florida. Today, available housing and condo inventories are swelling, prices are stabilizing, and the time houses remain on the market is growing. Definitely good news for home buyers.
Rising interest rates are being blamed for the slow down in sales. The Florida Association of Realtors cite the decline of existing single-family homes in Broward County which are down 35% from a year ago. Sales in Palm Beach dropped 23% and Miami-Dade County dropped 38% as well.