Florida Home Sales Drop in December

Home sales drop, prices rise in South Florida prior to Hurricane Irma’s landfall. Total resi sales fell in all three counties last month, with some showing double-digit declines in condo sales. september 20, 2017 06:00PM. Hurricane Irma over South Florida (Credit: NASA)

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Hopefully, value is not the first word that comes to mind when one hears the word home. But even if it is, a house’s price is thought to be relatively stable, shifting on the scale of years, not.

ORLANDO, FL-The latest data from the residential home sales market in Florida was a mixed bag with sales falling more than 6% in January, Single-family home sales sit at a seasonally adjusted annual rate of 4.45 million in December, down from 4.71 million in November, but is 10.1 percent below the 4.95 million sales pace from a year.

New home sales in the U.S. lost steam in December but wrapped up a solid year in a segment of the housing market that has faced tight inventory and fast-rising prices..

Airbnb Rentals Make Mortgage Refinancing Easier – Brite Homes Florida There are plenty of reasons people refinance their homes. For some, it’s to get a better interest rate and bring their monthly mortgage payments down. Refinancing saves an average of $3,100 per year on mortgage payments. For others, especially those enjoying a steady income from Airbnb rentals, the refinance frees up cash to make home improvements.

Total property listings have risen 4.8% in the last month, and are up 3.5% from last year according to the Florida Realtors Association. Listing prices are down 19% for the 100k to $150k home price range while up 17% for the $300 to $400k home price range and up16.7% for homes above $1 million.

This is exactly what they were saying right up to the last day before the florida real estate bubble popped and home prices proceeded to drop 60% on average. When this current bubble pops, prices will likely drop the most in neighborhoods where homes are occupied mainly by people who bought to live in Florida full-time.

It’s Official: 2016 Was The Best Year for Existing Home Sales in a Decade.. Single-family homes were going for a median $233,500 in December. That was a 1% drop from November, but a 3.8% rise.

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Q) Is Now the Time to Buy Real Estate in Florida? A) No, In My Opinion It is Not a Good Time to Buy a Home in Florida. Why? It’s still a seller’s market, so buyers are paying more than they need to.; Prices won’t be going much higher, much longer, so if you can wait you will be better off.