NORADA REAL ESTATE INVESTMENTS, OCTOBER 2023
Florida Real Estate Forecast Next 5 years
Florida home values have risen by about 80% over the past 5 years and a positive trend is forecasted for the next 5 years.
With the recent spike in mortgage payments as a result of rising interest rates, analysts are watching the Florida housing market closely to see what effect this will have. It is likely to restrict house price increases, but to what amount is unclear because there is still a “fear of losing out” attitude among purchasers, which is fueling the market, although slowly.
It’s no surprise that Zillow ranked Tampa, Florida, as the top real estate market in the United States in 2022.
Florida housing prices have witnessed some of the most dramatic increases in the country, with Miami and Tampa at the forefront of the upswing. Due to a variety of variables, the housing market in Tampa has outpaced many others, including a large number of potential buyers, a scarcity of supply, strong property sales, and an active employment market in the area.

Overall, the Florida housing market is strong and is predicted to remain so in the next five years.
If you’re a seller, this is wonderful news since it implies property values are rising and there isn’t much selling competition, giving you the luxury of selecting from the best offers on your schedule. Higher mortgage rates may cause unprepared house buyers to postpone their purchases.
If this reduces buyer demand sufficiently in some Florida areas, price appreciation may decrease.

The lower price increase may provide remaining buyers who can afford higher interest rates more confidence
in locating a home they can afford. And that leads to fewer home sales.

Whether or not the country enters a recession, the housing market appears to be in good shape for the foreseeable future.
Perhaps not at the same rate that the United States has lately seen, but growth nevertheless.
This is an excellent moment for real estate investors, particularly those interested in Florida, to capitalize on market possibilities.

Send or leave me a message if you want me or someone from my amazing real estate team to call and talk to you further about this.
Please let me know what area you’re in and what you are most interested in doing, whether it be buying, selling or investing in Commercial or Residential Real Estate!.
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