Florida Real Estate News

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Florida Realtors has released new buyer representation forms in advance of the practice changes related to the NAR settlement.
New listings, median sales prices rose YoY for existing single-family homes, up 15.2% and 1.6% ($426.5K), and for condo-townhouse units, up13.8% and 1.5% ($330K).
The median existing-home sales price jumped 5.8% from May 2023 to $419,300 – the highest price ever recorded and the 11th consecutive month of YoY price gains.
Real estate pros use TikTok because it hits every age demographic, among other reasons. TikTok has until Jan. 19 to sell to American interests or be banned.
The housing initiative celebrates its third anniversary and recommits to raising Black homeownership levels to rates never seen before — all by 2030.
AI should be monitored to ensure it is not inserting inaccuracies in copy or badly cropping photos because slip-ups can harm an agent's reputation.
Freddie Mac: Last week, it was 6.95%. This is the third straight weekly decline and the lowest level for 30-year fixed-rate mortgages since early April.
High interest rates for loans held back housing supply as overall housing starts fell 5.5%, single-family starts declined 5.2% and multifamily fell 6.6%.
Eligible sellers can transfer their assumable mortgages to qualifying buyers, allowing them to assume the seller’s low mortgage rates.
Single-family home developers haven’t experienced a downshift in sales due to more inventory, however. Higher property insurance rates may be a bigger concern.
RE Q&A: Can the seller keep the deposit, since there is a signed contract? It depends on the financing section of your contract, timing and other specific details.
Investors are finding opportunities in the office market as the commercial sector struggles with factors such as low tenant demand after the pandemic.
AirDNA reports that coastal area short-term rentals were 17% more popular among tourists than hotels. Short-term rentals also attract business travelers.
The proposed increase, on average 13.5%, will go to the state Office of Insurance Regulation for review and potential approval.

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