While the effects of higher mortgage rates were felt across Florida during November, a long-waited-for boost in inventory helped ease house hunters' frustrations.
As 2022 ended, Florida’s housing market looked similar to the more traditional pre-pandemic market years in terms of total closed sales, though it fell short in the year-to-year compared to the unusually strong 2021 sales.
Year-over-year numbers don't tell the whole story of what's happening in Florida's housing market. Metrics from the second half of 2022 show a market that remains strong, despite higher home prices and mortgage rates.
EXTENDED POST-HURRICANE IAN UPDATE: New listings, new pending sales and closings all slowed in September, but this month's numbers don't tell the whole story. Historically, Florida's housing market has rebounded quickly after a hurricane.