by Gwinn Volen

Housing Market Forecasts for the Second Half of the Year

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…

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 by Jenn Heller

 

Purchasing a home in Northeast Florida isn’t just a lifestyle investment — it’s also an opportunity to tap into valuable property tax savings. Two powerful tools available to Florida homeowners are the Homestead Exemption and Portability benefits. If you're buying or already own a home in St. Johns or Duval County, understanding how these work can lead to significant, long-term financial advantages.

Homestead Exemption: Built-In Tax Relief for Florida Homeowners

Florida’s Homestead Exemption is a tax benefit designed to reduce the taxable value of your primary residence. When approved, it can lower the amount of property taxes you pay each year — starting with an initial $25,000 exemption off your home’s assessed value. An…

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