After experiencing one of the worst years in decades for home sales, Florida's housing market is showing signs of recovery in 2025. Local realtors are reporting an increase in buyer activity, with showings, inquiries, and offers picking up since the start of the year. While mortgage rates are expected to remain elevated, around 6% or 7%, in the short term, they may decrease as inflation eases.
This, coupled with a growing inventory of homes for sale, is creating a more favorable market for buyers.Florida continues to be a popular destination for relocating families, but affordability remains a challenge. Home prices below $350,000 are struggling to find buyers, as mortgage rates and homeowners insurance costs remain high. However, the median sales price for single-family homes in Northeast Florida increased by 2.3% in December 2024 compared to the previous month, reaching $400,000. Mario Gonzalez, the president of NEFAR, stated that the region's housing market is already seeing increased activity in 2025 and that increasing inventory is a priority to give buyers a wider selection. Experts believe that Florida's housing market will continue to stabilize and potentially see moderate growth in 2025. This positive trend could bring relief to both buyers and sellers who have been navigating a challenging market for the past couple of years
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Florida Housing Market Poised for Steep Price Drops in 2025Experts predict a significant decline in Florida's housing market, particularly outside of booming areas like Miami, as inventory increases and demand wanes. The state's unstable homeowners insurance market adds to the challenges.
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Housing and Housing Finance Outlook for 2025Housing and Housing Finance Outlook for 2025
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