In part two of our three-part series, Florida Realtors analyzes how the income of new arrivals impacts the housing markets.
Home prices rose 3.8% in November 2024, up from 3.6% in October. Experts predict a slowdown in 2025 as mortgage rates rise. Tampa saw a 0.4% decline.
Homes are taking longer to sell largely because housing costs are so expensive and there’s a limited supply, Redfin said. It’s the slowest pace in 5 years.
All four U.S. regions saw month-over-month transaction losses, NAR’s chief economist said. High mortgage rates haven’t reduced demand, thanks to more cash deals.
Realtor.com: The number of newly listed homes rose 37.5% month-over-month. Florida has three of the five markets in the U.S. with the highest share of price cuts.
Real estate pros can stand out by specializing in a niche and using the 5-5-5 strategy: calls, messages and meetings to build leads and client trust.
Some buyers are looking for better deals to counter higher mortgage rates. Seller concessions cover certain costs associated with a home purchase.
U.S. home prices rose 4.2% year-over-year, but growth is slowing due to high mortgage rates, according to the FHFA House Price Index.
Mortgage rates will close 2025 and 2026 at 6.5% and 6.3%, respectively, up from the previous forecast of 6.2% and 6.0%.
As buyers are signing significantly more agreements, here’s a refresher on the difference between exclusivity and agency.
