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Florida Housing Market Warning Issued

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There might not be a better time to buy a home in Florida then now, says one local realtor.

As Florida sellers slash the prices of their properties in an attempt to attract reluctant buyers, local realtors say this might be the right time to purchase a home in the Sunshine State.Read more: How To Sell Your HomeAs of February 29, the average Florida home value was $392,306, up 3 percent over the past year, according to real estate company Zillow. That was above the national average of $347,716, up 3.6 percent year-on-year.

So, we have a sudden increase in inventory once everybody suddenly got their houses fixed,' he said.Read more: First-Time Homebuyer GuideYaffey warned that homebuyers should not risk waiting any longer. 'If they wait when the interest rates drop, all the buyers that have had uncertainty are going to swarm in, and then the sellers will probably be in a multiple offer situation,' he told the channel.

 

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