Thursday, May 26, 2022 / by Flr Team
Something big is happening!
This historically competitive housing market is showing early signs of a shift.
We’ve seen 121 consecutive months of home price acceleration, the longest running streak on record! Now, there are national projections saying home prices will drop slightly in the coming year.
Rising mortgage rates are sure to cool the seller’s market down. Wishful homebuyers may now be getting priced out of their dream home and others may even lose their loan eligibility.
Despite those concerns, many local buyers remain in the market and need to buy their next home. We may even continue to see home prices rise slightly due to the ongoing low housing inventory and continued growth in the area.
But what does all this mean for you?
Contact our team at Florida Lifestyle Realty to learn more about what to expect in the changing housing market and how it may affect you.
Florida Lifestyle Realty