Florida Housing Market Poised for Steep Price Drops in 2025

Florida's housing market is likely to face steep price declines in 2025, according to experts, as what was once among the hottest states in the nation has become a tricky place to buy and sell a home.Nick Gerli, the CEO of the real estate data platform Reventure App, told ResiClub, a media and research company that analyzes the U.S.

housing market, that home values in certain Florida markets could drop by as much as 10 percent throughout 2025, as growing inventory meets dwindling demand—and the state's homeowners insurance market remains in shambles.While a booming market such as Miami is expected to continue thriving next year, cities such as Tampa, St. Petersburg, Sarasota, Punta Gorda and Naples are likely to experience steep declines, Gerli forecast.Newsweek contacted Gerli for further comment by email on Monday outside normal business hours.Why It MattersHousing affordability has been strained across the U.S. in the past four years, as prices skyrocketed during the pandemic because of pent-up demand and an ongoing supply shortage that has affected the entire country.In Florida, this situation has been exacerbated by the instability of the state's homeowners insurance sector. While hurricanes have always affected the state, climate change is making extreme weather events more frequent and more severe, increasing the risk for insurers that policyholders' damage claims may outweigh company profits.Several major insurers have cut coverage in the most disaster-prone areas of the state in the past few years or withdrawn from Florida entirely, leaving residents struggling to find coverage. At the same time, premiums have risen beyond what many can afford.Inbound migration to Florida has also significantly slowed down since the pandemic boom, while inventory is still on the rise thanks to building projects that began in the past few year

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Florida's Housing Market Could See 'Big Investor Selloff' in 2025An increase in supply has meant falling demand for homes, which means rent prices are tumbling in a bid to attract tenants, says expert.
ソース: Newsweek - 🏆 468. / 52 続きを読む »

Florida's Housing Market Now Classed at 'Higher Risk'Some counties are considered to be 'at higher risk of downturns,' experts say, as homeowners struggle with 'underwater mortgages' and foreclosures.
ソース: Newsweek - 🏆 468. / 52 続きを読む »

Real Estate Market Poised for Resurgence in 2025Mauricio Umansky, CEO of The Agency, predicts a revival in home listings and sales in 2025, driven by the anticipated drop in interest rates. Despite uncertainties, the report highlights the luxury real estate market's resilience and future expectations.
ソース: FoxBusiness - 🏆 458. / 53 続きを読む »