Hot, yes. Exodus? Not yet. New research from Florida Atlantic University finds that extreme temperatures aren't pushing residents out of Florida or other Sun Belt states.
Many first-time homebuyers still plan to purchase homes despite affordability challenges, with buyers increasingly willing to compromise on location, size and financing strategies to enter the market.
Florida condo and townhouse sales rose 7% year over year in April, with pending sales up nearly 15%, giving agents new tools to re-engage affordability-focused buyers statewide.
Tampa, Orlando, Jacksonville, Hialeah, St. Petersburg and Miami ranked in the top 10 for startups in a new WalletHub analysis of 100 large U.S. cities.
House and Senate negotiators remain aligned on $50 million for Hometown Heroes and full SHIP and SAIL appropriations as budget talks continue.
New pending sales of single-family homes in Florida rose 8% year over year in April, a sharp increase that Florida Realtors Chief Economist Dr. Brad O’Connor said could signal continued closed-sales growth into May and June.
Litigation drops, insurers cut rates and more companies enter Florida, easing insurance costs and improving affordability and market stability.
A growing share of younger buyers is relying on family help, gifts and assistance programs to buy homes, highlighting how affordability pressures are reshaping the path to homeownership.
Florida’s housing market posted its eighth straight month of year-over-year closed sales gains, with condo and townhouse activity showing particular strength.
Rates edged lower this week after rising the previous two weeks, with the average 30-year fixed mortgage rate dipping to 6.36% and the 15-year fixed rate easing to 5.71%, according to Freddie Mac. The slight decline may help some buyers revisit affordability calculations heading into the summer market.
