June Newsletter

The demand for Florida real estate has been very strong over the past few years, but in early May of 2024 the Florida market is undergoing a healthy rebalancing with the higher interest rates and a greater number of homes now spending more days on the market. As the median price of a Florida home just achieved an all-time high in March, combined with 7%+ mortgage rates and rising home insurance costs, some buyers are now becoming more challenged with overall home affordability. At the end of March 2024, the median single family Florida home price was $421K and this represents a 4% year-over-year price increase.

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