Posted 12/21/2023, 11:19:41 PM
South Florida Housing Market Still Tight But Recent Rate Drops Open Door for More Buyers
- Housing inventory remains tight in South Florida; prices stay high
- Federal interest rate hikes have eroded buyers' purchasing power and squeezed home sales
- Influx of newcomers from Northeast, Midwest, and California replaced South American and international buyers
- Interest rates dropped recently, allowing more buyers to afford more houses
- Expert advises prospective buyers, especially young people, to get in the market and start building home equity