Bottom line:We're not seeing any major home price decline or crash in theSouth Florida housing market just yet. Overall, Florida housing prices have witnessed some of the most dramatic increases in the country, with Miami and Tampa at the forefront of the upswing. Mortgage rates will come down, but its all dependent on different factors, he said. With a population of 120,646 Palm Bay, Florida is the most populous city in Brevard county . Which Areas of Florida Are the Best Investment Bets? The average sale price of a home in Dunedin was $487K last month, up 26.4% since last year. A buyers market is created when housing supply outpaces demand, the opposite of the NARs predictions for 2023. Leer pointed out this is a sign that consumers have been pushed to the brink and are having to pull back on spending as higher expenses erode their savings and sense of financial stability. In addition, a mere 8 percent of poll participants expect the housing market to largely favor homebuyers in 2026. A look at how commercial agents can help property owners create an implementationplan to ensure accessibility. Builders had to contend with the cancellation of construction, mortgage rates were rising, and home sales sunk. Since the 1940s, Florida's population has increased year after year, often outperforming the national average.
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