Existing-home sales fell nationally 1.0% in September to a seasonally adjusted annual rate of 3.84 million. In the South, existing-home sales decreased 1.7%.
Florida Realtors Chief Economist: Hurricane Helene disrupted the state’s RE market last month. Still, statewide inventory rose YoY for both Sept. and 3Q.
Building attached homes helps reduce land costs and offers more affordable options for budget-conscious buyers.
Nearly 360,000 insurance claims have been filed in Florida due to Hurricanes Milton and Helene, mostly from residential properties in the hardest-hit areas.
The increase in new home sales shows they continue to be an appealing option. The average loan size for new homes rose to $402,658 in September.
Florida’s pro-business mindset has encouraged commercial growth, which has led to years of steady growth, one investor said.
Real estate professionals are building client loyalty and responding to needs among a quickly growing Hispanic demographic.
Before making a move, assess whether a change will benefit your career and clients. Align with those who support long-term growth and ethical practices.
Lower rates have encouraged buyers from the sidelines. In Florida, builders are offering incentives that include lot premium waivers and price reductions.
Even with affordability headwinds, builders remain optimistic about the future of the market. The share of builders cutting prices held steady at 32% in October.
