Q1 Real Estate Sales: Real Estate Market Restrained and Yet Prices Are Inching Up
Posted by Gwinn Volen on
By Gwinn Volen
Analysts and talking heads have speculated for months now that the real estate market could crash. The western half of the US has seen some bigger declines, but a crash is definitely not the case in NE Florida.
The reason for this is that supply remains low in our area. An over-supply is what ultimately would drive drastic price cuts.
Additionally, Florida continues to see an influx of newcomers. According to Census data, Florida was the fastest growing state in 2022.
Though Q4 2022 and Q1 2023 show a dip in sale prices for most areas in NE Florida, monthly trends for 2023 indicate an uptick in pricing.
The economy, mortgage rates and headlines all contributed to the dips we’ve seen, but with inventory as low as it is and…
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