According to a recent report by Realtor. com, Florida's housing market is exhibiting a stark contrast between its coastal and inland regions. While condo prices are experiencing a decline along the coast due to the high cost of insurance and assessment fees, the prices of single-family homes are remaining steady inland (SFGATE). Experts attribute this divergence to the significant impact of soaring insurance premiums and rising assessment fees, particularly on condo owners, under new state regulations.
The trend has led to a slowdown in the condo market, making it a buyer's market, as stated by Realtor. com senior economist Joel Berner. Berner notes that, unless a house is perfect and priced correctly, "it may not sell rapidly." Florida's housing market is notable for its size... with the most home listings in the country.
It accounts for nearly one-eighth of all listings in the U. S., despite having fewer residents than California (SFGATE). Realtor. com has analyzed the data to provide insights into the current state of Florida's housing market... which is a vital sector for the state's economy. The divergent trends in Florida's housing market have significant implications for homebuyers and sellers.
Those considering purchasing a property in the state should be aware of the vastly different conditions in the coastal and inland regions. Those already in the process of buying or selling a home should be prepared for a potentially complex and dynamic market. The post Florida's Real Estate Market Has a Split Personality: What To Know If You're Buying or Selling in the Sunshine State appeared first on Real Estate News Insights | realtor. com.
Joel Berner is a senior economist at Realtor. com, where he provides valuable insights to clients and stakeholders. With years of experience in the field, he has developed a keen understanding of market trends and patterns. As a senior economist, Berner is responsible for analyzing data and identifying patterns and trends in the real estate market.
He has a deep understanding of the complexities of the market and is able to provide insightful commentary and analysis. Berner's expertise has been featured in various publications... where he shares his knowledge and perspectives on the state of the real estate market. His opinions are highly valued by clients and stakeholders who seek to stay informed about the latest developments in the industry.
Berner's goal is to provide clients with accurate and timely information that enables them to make informed decisions about their real estate investments. Through his work, "he aims to build trust and credibility with his clients and stakeholders.".. and to contribute to the continued growth and success of the real estate industry.
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Florida's housing market is a tale of two states. On the coast, condo prices are falling with residents being driven out by high insurance costs and assessment fees, while inland, the cost of single-family homes is holding steady. Local experts say this divergence is driven by soaring insurance premiums and rising assessment fees under new state regulations, which have significantly affected condo owners.●●● ●●●
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