Jacksonville Housing Market Forecasts for the Second Half of the Year
Posted by Gwinn Volen on
By Gwinn Volen
Q1 2025 home sales in the Jacksonville area were down 7% from Q1 2024. Economic uncertainty, triggered by increasing mortgage rates and a volatile stock market, is suppressing buyer demand.
Housing and financial experts are starting to release their projections for the balance of the year.
Mortgage Rates Expected to Dip Slightly
While a major drop isn’t expected, forecasters call for a slight drop in rates in the months ahead as the economic outlook becomes more certain. Should rates drop, more buyers would likely enter the market.
Currently, 30-year mortgage rates are averaging 7% nationally. The chart below shows where 5 major real estate players predict mortgage rates will be by year-end 2025. Even a small decline would be…
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