Florida Real Estate Market
Florida sellers are reducing property prices, making it a good time to buy a home in the Sunshine State as the market has slowed down, offering increased affordability for potential buyers.
Key Points
- Florida home values up 3% over the past year
- Average home value in Florida was $392,306 as of February 29
- Home prices in Florida slowing down after a boom during the pandemic
Pros
- Reduced property prices in Florida
- Increased inventory of homes
- Mortgage rates not expected to rise further
Cons
- Relatively high home prices compared to the national average
- Skyrocketing cost of home insurance in the state