Redfin said declining mortgage rates could bring back demand. Three Florida cities have seen some of the biggest decreases in pending sales.
The new budget includes significant funding linked to Florida Realtors' legislative priorities, including $100 million for the Hometown Heroes Housing Program.
The current sentiment reflects pent-up frustration with the overall lack of affordability, one economist said. However, sales activity is expected to increase.
The National Association of Realtors said the policy revision will allow veterans to continue to be competitive in the homebuying market.
Millennials have become the largest home-buying group but wait longer to buy, starting at age 35. Gen-Z buy homes earlier, starting at age 25.
One expert said there are opportunities for high-quality properties, but investors need to ride out the short-term risks.
NAR kicked off its fundraiser for its Realtor® Relief Foundation with a $1M goal. Florida Realtors is also seeking donations for its Disaster Relief Fund.
The gap between Black and white homeownership rates closed over the pandemic, but disparities remain.
The HUD-Veteran Affairs Supportive Housing vouchers can help more than 7,000 veterans in their search for permanent housing.
Floridians aged 60 and older were more optimistic about the current and future economic conditions. Sentiment is expected to remain the same in the coming months.
