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Florida home values have risen by about 80% over the past 5 years and a positive trend is forecasted for the next 5 years. With the recent spike in mortgage payments as a result of rising interest rates, analysts are watching the Florida housing market closely to see what effect this will have.
Wondering how competitive the Florida housing market is? Find Florida's median house price, demand, supply and more with Redfin. Learn more!
The average home value in Florida is $392,176, up 0.1% over the past year. Learn more about the Florida housing market and real estate trends.
Looking ahead to 2024, state and national real estate experts expect Florida’s housing market to strengthen a bit, driven by population and business growth. “We are back to a pre-pandemic normal pattern of sales,” says Dr. Brad O’Connor, Ph.D., chief economist, Florida Realtors®.
Most forecasts for Florida real estate in 2024, 2025 and 2030 are for lower interest rates, increasing demand for single-family homes and ultimately higher real estate prices.
In this article, we’ll delve into the key trends and factors that will shape the future of Florida’s real estate landscape, focusing on Florida housing market predictions for 2023, 2024, and beyond. We’ll cover the following trends: Projected growth in home prices and sales; Emerging markets and hotspots within Florida
Before delving into the Florida real estate forecast for the next 5 years, it’s constructive to take a closer look at the current Florida housing market, based on the latest Redfin data and most...
Forecasts for the Florida real estate market suggest that these conditions will persist through the rest of 2024 and into 2025. Home price predictions, meanwhile, point to a slow and gradual increase in house values for most cities stretching into 2025.
Florida Realtors closely monitors market trends, news and forecasts that impact the state’s real estate industry and Florida’s economy. Real property — building it, buying it, leasing it, selling it — generates revenue, creates jobs and contributes billions to the state’s economy.
Median sale price: In August 2023, the state’s median sale price was $415,000. That’s up 2 percent from the year before and slightly above the national median, which as of August was $407,100....