Featuring the perspectives of:

Vivian Dimond
Managing Broker, Brown Harris Stevens Miami

Seth Kaufman
Chief Sales Officer, ONE Sotheby’s International Realty

Anthony Lamacchia
Broker, Owner and Founder, Lamacchia Realty

Jay Phillip Parker
CEO of Brokerage, Florida Region and President of Douglas Elliman Development Marketing

William “Bill” Raveis Jr.
Chairman & CEO, William Raveis

Judy Zeder
Licensed Sales Associate, Jills Zeder Group, Coldwell Banker Realty

What do you expect for the overall housing market in 2025?

Seth Kaufman: We expect the housing market to experience some growth in 2025. As we come out of the election year and anticipate rate cuts, mortgage rates are likely to become more attractive, driving increased demand. The election’s conclusion will bring a sense of closure and stability, allowing buyers and sellers to feel more confident, leading to a return to business as usual.

Vivian Dimond: In 2025, we are expecting an overall strong housing market. In general, the market will be stable and, in a lot of areas — especially for us in South Florida — we’ll see upward momentum. Depending on what you’re buying and what area you are interested in, your perspective is going to be different based on a range of variables. Although questions remain about the future of interest rates, we’re already beginning to see slight reductions occurring. With the election uncertainty now behind us, we are expecting to see additional reductions and stabilization across all markets. Prices are going to stay high in the most desirable areas where demand exceeds inventory, while overvalued listings will correct themselves. Ups and downs are to be expected throughout the year so it’s important to keep a cool head and think about the big picture. South Florida is an exceptionally desirable market. We can count on robust demand from people wanting to be here long term.

Judy Zeder: We are anticipating either a stable or a slight increase, particularly starting in April/May as the selling season away from the seasonal market on the East Coast begins. We are now past the uncertainty of the elections, the interest rates are excellent, and there is a pent-up demand that started in the 4th quarter of 2023 that should start to fuel the activity in 2025. In addition, the inventory is rising, and that brings more choice to buyers and attracts more buyers into the marketplace.

Jay Phillip Parker: Overall, the drivers positively impacting the South Florida housing market remain steadfast. Key factors positively driving the South Florida market are well-established and continue to evolve to meet the highly discerning demands of our new demographic, including cultural and culinary developments, increasing domestic migration, job creation, enhanced medical and educational facilities, and the region’s appeal to business, investment and tourism. All of these drivers continue to impact domestic migration. While there has been commentary about the inventory growth, we are still way below the inventory levels from five years ago, and I believe we will see a surge in sales in the last quarter. Net net, stable to up!

William “Bill” Raveis Jr.: Our marketplace continues to grow. With interest rates coming down and the economy showing signs of improvement over the coming months, we remain optimistic that most Florida regions will gain momentum. A balanced housing market is ideal — good for buyers and sellers as well as our agents.

Anthony Lamacchia: I expect the South Florida market to be fairly stable. The decrease in sales overall has already bottomed out, and it should be either even or up from here in 2025.

What growth, if any, do you expect for your company next year?

Kaufman: The recent NAR settlement has led many agents to seek more professional brokerages with a solid brand reputation. As the world’s most prestigious luxury real estate brand, ONE Sotheby’s International Realty resonates with clients and supports agents in building their business. We remain committed to providing the tools, support and marketing resources agents need to succeed, ensuring our leadership in the industry.

Raveis Jr.: William Raveis is looking at several opportunities to grow and expand throughout the East Coast. Our business model attracts like-minded, small-to-medium-sized or boutique-style real estate firms to acquire. We are a family-owned company with a special luxury brand to offer — not a Wall Street firm beholden to its shareholders. People want to be associated with us, our agents, our managers and our leadership teams. Unique to find in our industry are two generations, with me at the helm and sons, Chris and Ryan Raveis as co-presidents, who’ve been successfully and strategically expanding our company for over 50 years.

Lamacchia: Our company grew about 40% this year and we expect similar growth in 2025. We should have some breakout growth in our South Florida operation as well.

Parker: Douglas Elliman Florida anticipates steady growth in 2024, driven by a commitment to agent success and strategic expansion into new developments like Olara, The Perigon, The Residences at Shell Bay, The Bahia Mar and Jean-Georges Miami Tropic Residences — to name a few. In addition to launching new tools to further the success of our top-performing agent community, we continue to realize powerful organic new agent recruiting and strong retention. We are focused on growing our strength in our key markets and advancing our position in the West Coast, including Naples, Sarasota, St. Petersburg and Tampa.

Zeder: Our group is having a remarkable year, having closed over $1.7 billion YTD in 2024. We continue to provide much-needed information to the high-net-worth individuals that helps them select properties and invest prudently in a very strong market area. Florida continues to have influx from every area of the United States, and we are anticipating more foreign buyers will return to the market from Canada, Mexico and parts of Europe. South Florida is the epicenter of culture, activities, sports and entertainment, and it hosts many international events such as Art Basel, Formula One and multiple boat shows.

Dimond: Brown Harris Stevens Miami’s future in the new year is focused on growth and continued retention. We continue to attract and retain the best Realtors in the industry, and Brown Harris Stevens is focused on investing in technologies that empower our agents and teams with the latest resources and marketing advancements, including CRM programs, eMarketing programs, digital platforms and online resources to maximize exposure and increase their efficiencies — without increasing their costs.

What will be the biggest challenges for agents in 2025 and how can they overcome those challenges?

Dimond: To be successful, it’s essential and non-negotiable that every agent challenges themselves to sharpen their skills and knowledge on an ongoing basis. The technology and information available to us are unlimited and can be implemented in numerous ways to excel in this competitive industry. Agents who want to see their business grow should focus on growing their spheres of influence and doing so in a holistic way. Long-term relationships, new connections, social media, marketing and the media are all touch points for your next referral, listing or sale.

Parker: Managing market perceptions will be one of the biggest challenges for agents, especially as interest rates fluctuate. As interest rates adjust down, I anticipate more movement in the market. To navigate this, skilled agents will capitalize on real-time data and market insights to ensure they are advising their clients, both buyers and sellers, effectively.

Zeder: There may be agents who will be challenged with keeping up with the many changes that happen in the real estate business. To be successful, an agent must continue to study the market, understand the economics and keep communication consistent and clear with their clients while navigating a robust and changing economy. We, as a group, are constantly educating each other, attending educational programs, reading all relevant media and making sure we stay on top of all issues that affect or impact our clients.

Lamacchia: The biggest challenge for agents is going to be continuing to learn how to get the right price on listings and price adjustments when necessary. The market overall, and particularly with condos, is vastly different then it was 3 or 4 years ago when everything that got listed sold immediately. This market requires more skills and more planning in working with sellers.

Raveis Jr.: The challenges imposed by the NAR settlement and creating a value proposition for buyers may linger in 2025. Early on, we launched a multi-layered approach to buyer broker, with exclusive Tom Ferry training, role-playing and one-on-one strategy sessions led by our Strategic growth coaches, career development, and management teams. At William Raveis, we have outstanding collaboration among real estate, insurance, mortgage, marketing, technology, in addition to a world-class training program supporting our sales force. We are resilient and prepared to face any market challenge in the future.

Kaufman: Navigating the new normal, particularly with buyer brokerage agreements, and understanding how to secure compensation from sellers for buyer brokers. At ONE Sotheby’s International Realty, we provide continuous support, training, tools and marketing resources that help agents navigate these challenges. Our brand elevates agents above the competition, ensuring they stand out in a crowded market and maintain a strong public image.

What will be the long-term impact on South Florida housing in the aftermath of hurricanes Helene and Milton?

Kaufman: Natural disasters, while devastating, often lead to better standards. After Superstorm Sandy, we saw beach bungalows in North Florida rebuilt into 2- and 3-bedroom homes designed to withstand future storms. After Helene and Milton, Florida will likely adopt stricter building standards, and we can expect a stronger, more resilient housing market. The region will also see improvements in infrastructure, including roads and flood management systems. Despite the challenges, people will continue to be drawn to South Florida for its unique lifestyle and opportunities.

Zeder: South Florida changed dramatically after Hurricane Andrew. The building codes are very strong here, and all housing that was built, renovated or repaired were and are held to a very high standard. South Florida is always prepared for hurricanes with appropriate protection for windows, doors, exterior issues, roof, etc. Buyers inspect the home, and insurance companies conduct a four-point inspection prior to issuing a policy. Hurricane Andrew changed everything for our area, and the result is a much stronger, more resilient area than anywhere in Florida.

Raveis Jr.: We were fortunate, but William Raveis is resilient. Historically speaking, Florida keeps going up in value, people continue to gravitate to our beautiful state for its quality of life, endless recreational opportunities, miles of coastline and sunshine.

Dimond: Hurricanes Helene and Milton were devastating for the communities affected. In the wake of those storms though, the South Florida housing market will absolutely rebound. In the short term, we may see costs for materials and labor increase as communities rebuild. Long term, we know the desirability of South Florida as a place to live and work outshines the severe weather factor. For the most part, hurricanes don’t deter buyers from choosing South Florida.

Parker: While our immediate priority is addressing the needs and challenges of those impacted by these hurricanes, the long-term impact on South Florida’s housing market will likely center around insurance costs, stricter development standards and enhanced prevention measures.

Check out this year’s other predictions below!