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.

The C.A.R. forecasts 10.5% growth in home sales and a median price increase of 4.6% in 2025, driven by lower mortgage rates and improved supply dynamics.

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.

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.

Existing home sales in the U.S. increased by 3.4% in October 2024, reaching a seasonally adjusted rate of 3.96 million units. This improvement followed over three years of declining sales and suggests a potential recovery in the housing market.