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Florida real estate market staying hot despite agent exodus: ‘It’s not an accident’

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Miami real estate leaders and National Association of Home Builders CEO Jerry Howard explain why the number of agents heading for the door won't impact Florida's market.

FOX Business' Madison Alworth reports from Miami Beach, Florida, as one real estate broker claims the area is seeing 'less transactions out there.'

With new data on the number of U.S. realtors indicating declining membership growth this year as agents head for the door in once-hot markets,"It's not an accident," National Association of Home Builders CEO Jerry Howard said Wednesday, "that there's 1.9% [population] growth in Florida. Florida is encouraging growth across all sectors, as are the Carolinas. And that's where people are moving. That's where you can still build.

"There's just less transactions," Echo Fine Properties owner Jeff Lichtenstein told FOX Business’ Madison Alworth. "We're about 40% down from December of last year versus December of this year. And so all that money from the stimulus money, interest rates went from 3% to 7%, all that just has made less transactions out there."

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Florida real estate has declined for 5 straight months. This is propaganda. Property values are declining the fastest in Southwest Florida.

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