Happy Tuesday everybody!

There is no doubt that certain markets in Florida are slowing, and as a result, prices are dropping. However, it doesn't mean a crash is imminent. None of us have a crystal ball, but in my opinion, it's becoming a healthy market again where buyers are having a bit more say.

High prices, insurance and mortgage rates have pushed everyone's monthly payments up. Buyers have just reached their maximum. They're sitting to the side or, if they are buying, they are buying new construction or buying in areas where prices aren't quite as high.

Mortgage rates came down to their 15-month low over the last week, but it will take more than a percent or two to heat the Florida market back to recent levels.

I do not believe a crash is coming either. However, he does feel prices may flatten for a while. If prices go down, it will be single-digit percentages and only for the short term.

The current shift may be a rebalancing, where overheated markets are returning to more realistic levels.



Florida is by nature, transitory. There is still demand for housing and people are still moving here.

Have a great rest of the month!!

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