Spring Inventory Blooms, Buyers Remain Cautious
Pending sales fell, price cuts hit a record and inventory grew, but supply remains below pre-2020 levels as buyers tread carefully amid economic concerns.
Homeownership Costs Up to 17 Workdays Per Month
The median U.S. home price is $412K, requiring 10 workdays per month to afford. In Florida, it’s 11 days. Midwest buyers need a week or less.
Millennials Want Space but Prioritize Features
Millennial buyers say they want a home with a median of 2,408SF, the most requested amount of interior space compared to other generations
Insurer to Repay $30M to Florida Hurricane Fund
The insurer also agreed to pay $4M in fines and update its policies after the attorney general’s investigation found fraudulent reimbursement claims.
Affording a House on Your Own
Homeownership is possible without family gifts. Focus on your own goals, build a support team, explore down payment programs and get creative with financing options.
Florida Consumer Sentiment Drops in March
The decline, in line with national sentiment, was particularly pronounced among Floridians with an annual income over $50,000, a UF study found.
Boomers Now the Largest Share of Home Buyers
Baby boomers account for 42% of all home buyers, while millennials fall to 29% (down from 38% from one year ago), NAR said. Multigenerational home buying is rising.
Rates Expected to Move Lower in 2025, 2026
Fannie Mae forecasts mortgage rates at 6.3% by year-end 2025, boosting home sales slightly. Rates may drop further, encouraging more buyers off the sidelines.
How Long Should You Wait for Rates to Drop?
Mortgage rates remain near 7%, frustrating some buyers who expected lower costs. Experts say waiting for a big drop may not pay off, as small declines are likely.
How Seasonal Demand Affects Florida Rent Prices
Florida rental prices fluctuate with seasons – rising in winter for snowbirds, dropping in summer. Renters can save by timing leases, while owners adjust for demand.