Election Uncertainty Plays Role in North Florida's Sluggish Real Estate Market

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Real Estate News

Election,Real Estate Market,Homebuyers

With the 2024 election season in full swing, financial uncertainty is influencing homebuyers in North Florida. Recent reports show a drop in median sales prices and closed sales, with some buyers adopting a 'wait-and-see' approach.

Flagler County Fire Rescue implements new protocols in response to sex crime allegations of former paramedic1 hour agoFlorida Missing Child alert issued for 16-year-old Lake City girlA for sale sign stands outside a home on the market in the Alamo Placita neighborhood Tuesday, Aug. 27, 2024, in central Denver. – With the 2024 election season in full swing, News4JAX is looking at the role that financial uncertainty is playing in the sluggish real estate market in North Florida.

So is it better to buy now, or wait until after the election is over to make what many consider to be the biggest purchase of their lives? “So interest rates are starting to tick down, inventory is starting to tick down. But you’ll notice I’m doing this as I say that because what happens is, as that happens, buyers don’t just immediately go like this They’re filled with fear. For how many years now have they been beaten over the head with high interest rates, high prices and all these things.”

“I truly believe 2025 is primed to be the year that buyers get the best deal they’ve seen in the last five years,” he adds.

 

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