Florida’s Real Estate Market On Shaky Ground as Economy Waivers, Making Now the Best Time to Sell

September 28 05:13 2022
Florida’s Real Estate Market On Shaky Ground as Economy Waivers, Making Now the Best Time to Sell
Backed by decades of experience navigating complex and challenging real estate markets, the team at 3 Step Home Buyer discusses the current state of the Florida real estate market, making a good case for selling for top dollar before the proverbial bottom falls out.

The weather isn’t the only thing cooling down this fall. So is the economy, and along with it the Florida real estate market, making now a great time for homeowners to sell according to 3 Step Home Buyer.

Backed by decades of experience navigating complex and challenging real estate markets, the team at 3 Step Home Buyer discusses the current state of the Florida real estate market, making a good case for selling for top dollar before the proverbial bottom falls out.

Florida’s Red Hot Real Estate Market is Poised for a Cool Down

Florida’s real estate market has been among the most robust in the nation, with values having risen by 81% over the last five years. Overall, Florida has seen some of the most dramatic increase in housing prices across the country, with Zillow ranking Tampa as the top real estate market nationwide in 2022.

However, no market can sustain this type of inflationary growth without healthy corrections, and in against the backdrop of a struggling economy, rising interest rates, and the threat of recession, perhaps even a minor ‘crash’.

Macroeconomic Factors Across the US Beginning to Take Their Toll on Housing Markets

The economic forecast for the United States is weighing heavily on the minds (and wallets) of Floridians as well as those across the country.

What the Housing Market Is Up Against:

  • Persistent inflation
  • Increased ‘hawkishness’ by the Federal Reserve
  • Increased interest rates making borrowing more expensive
  • Reduced GDP projections
  • A tightening labor market
  • Rising energy costs
  • Ongoing tensions in Ukraine and in East Asia
  • China’s Evergrande real estate implosion
  • Disruptive forces associated with the lingering COVID-19 pandemic
  • Europe’s energy crisis
  • Surges in grain prices due to drought
  • Global supply chain disruptions
  • And more…

The world is a much smaller place than it once was, with global economic headwinds having a dramatic and often profound impact on the economy here at home. With that in mind, many Americans are bracing for a tough winter ahead, with consumer sentiment about the economy at all-time recent lows.

Now May Be the Best Time to Sell in Florida

Although the full impact of these and other influences have yet to be seen, if history is any indication of future performance, now may be the best time for home sellers in Florida to ‘get out on top’ and ahead of any significant downturns.

According to 3 Step Home Buyers, sellers in some areas have already begun to feel the noose tightening, with significant price reductions necessary to move inventory off the market. What was once a ‘sellers’ market, may be poised for a power transfer, putting buyers back in charge and costing sellers thousands in reduced listing prices.

As a forward-thinking disruptor in the Florida real estate market, 3 Step Home Buyer has developed an innovative process that helps home sellers get fair offers on their property faster and more reliably than through traditional real estate channels.

Will Housing Prices Start to Go Down?

No one has a crystal ball, but there are significant economic pressures that are expected to tame Florida’s real estate market.

Continued interest rate hikes by the Fed have made the cost of obtaining financing more challenging for home buyers, resulting in less buying power. This is expected to bring home prices down, as buyers become more realistic about their budget against the backdrop of inflation, interest rates, and reduced discretionary income.

Overpriced Real Estate Markets in Florida Poised for a Crash?

According to data from Florida Realtors (https://www.floridarealtors.org/), the market may already be at the precipice of a downturn, with total sales transactions closed in May down by 6.9% year over year. Further, Moody’s Analytics reports that the vast majority of Florida’s metropolitan areas are overpriced by more than 20%.

Florida’s Top 10 “Most Overpriced” Housing Markets (By Moody’s Analytics)

  • Homosassa Springs MSA (57%)
  • Palm Bay-Melbourne-Titusville MSA (48%)
  • Punta Gorda MSA (45%)
  • Vero Beach-Sebastian MSA (42%)
  • Port St. Lucie MSA (40%)
  • Crestview-Fort Walton Beach-Destin MSA (40%)
  • Cape Coral-Fort Myers MSA (39%)
  • Miami-Miami Beach-Kendall Metropolitan Division (39%)
  • Naples-Immokalee-Marco Island MSA (38%)
  • North Port-Sarasota-Bradenton MSA (38%)

3 Step Home Buyer – Ready. Set. Sold.

Helping Florida Homeowners Sell Their Homes Fast

For nearly a decade, 3StepHomeBuyer has helped local homeowners in Florida sell their home faster, and with less hassles. Their innovative process transforms what is otherwise a tedious and lengthy process into three simple steps, resulting in buyer offers within days, not weeks or months.

Since its inception, the company has helped over 25,000 customers get a fair price for their homes, offering unparalleled service and a streamlined process that takes the headaches out of selling a home.

With a customer-first approach to business, 3StepHomeBuyer is known for its attention to detail, ease of use, and ongoing support at every stage of the deal, from listing to offers and closing.

Those interested in learning more about 3StepHomeBuyer or in listing their home for sale are encouraged to reach out via the official website or by calling 954-416-3497.

Media Contact
Company Name: 3 Step Home Buyer
Contact Person: Nadav Izhaki
Email: Send Email
Phone: 818-395-3878
Address:2805 E Oakland Park Blvd, #224
City: Fort Lauderdale
State: Florida
Country: United States
Website: https://www.3stephomebuyer.com/