Here are some of the hottest topics currently surrounding real estate in Florida:
1. Skyrocketing Home Prices – Florida has seen rapid home price appreciation in recent years, with some areas seeing 20-30% year-over-year price jumps. There is much debate about how sustainable this growth is long term.
2. Bidding Wars and Cash Offers – The competitive market has led buyers to offer well over the asking price and make all-cash offers to edge out the competition. This has made things difficult for buyers needing financing.
3. Migration and Population Boom – Many out-of-state buyers, particularly from the northeast, are purchasing Florida homes and relocating due to factors like lower taxes, affordability, climate, and retirement benefits. This influx is expected to continue.
4. Rental and Investment Property Demand – Investors and second home buyers snatching up properties has lowered inventory. High demand for snowbirds and vacation rentals has also impacted long-term rental supply.
5. Interest Rate Impact – There is much speculation over how rising mortgage interest rates will impact the real estate frenzy. Some expect higher rates to dissuade buyers and lead to price corrections.
6. Housing Shortage – Developers are struggling to build inventory fast enough to meet swelling population growth in Florida hotspots. This mismatch of supply vs. demand continues to heat the market.
7. Climate Change Resilience – Coastal flooding risk and hurricane intensity are growing concerns around South Florida real estate in particular. Community resilience projects and elevated construction have become selling points.
