A real estate expert has warned Florida homebuyers to be careful as the local housing market undergoes changes.The state remains one of the country's toughest housing markets as buyers deal with sky-high interest rates and demand. However, real estate expert Nick Gerli is cautioning buyers that the market could look very different in the last half of 2024. He is the CEO of housing market data platform Reventure App.
The result now is a demand vacuum where we are likely to see fewer buyers for the next several years from a structural stand point,' he wrote.While Gerli acknowledged that list prices have come down only moderately and still have a 'long way to go' before buyers feel the market is affordable, the current inventory could indicate major changes are on the horizon.