Florida’s housing market in June continued the same trends as previous months with more closed sales, higher median prices and more new listings compared to a year ago, according to Florida Realtors’ latest housing data.

At the same time, the median existing-home price for all housing types in May was up 23.4% on an annual basis, as every region in the country registered price increases.

Florida homes keep fetching more money than they’re worth, a disturbing development that eventually could put buyers in a bind, according to researchers at Florida Atlantic University and Florida International University.

Meanwhile, the seasonally adjusted purchase index declined 6% from the previous week, the Mortgage Bankers Association reported.

Privately owned housing units authorized by building permits in June came in at a seasonally adjusted annual rate of
1,598,000, down 5.1 % from the revised May rate of 1,683,000, but 23.3% above the year-ago rate of 1,296,000.

July’s reading of 80 was down one point from June, but still signaled strong demand for housing, the National Association of Home Builders said.

During the four-week period ended July 11, the average weekly share of homes for sale with a price drop passed 4% for the first time since September 2020.

Meanwhile, the Mortgage Bankers Association’s seasonally adjusted purchase index rose 8% from the previous week.

Home values on the Treasure Coast are booming. This surge is caused by new growth in the area economy including an influx of new companies plus out-of-state residents moving to the area.

The competitive homebuying market showed signs of loosening up last month as bidding wars dropped from May despite being higher than they were a year ago. 

Adjectives reflecting the desire for privacy and physical isolation gained a place of prominence: “private,” “covered,” “quiet,” “separate” and “enclosed” were among the top 100 most-used description terms.

It could take Miami-area renters more than eight years to save for a down payment in today’s market.

Tampa area rents jumped 16.9% year over year in May.

Millennials were once referred to as the “renter generation” because of their preference for apartment living in urban areas over purchasing a home in the suburbs like their Baby Boomer parents.

Housing markets across the country saw new listings growth in June, as the median list price hit yet another all-time high, and Tampa was no exception.  In June, new listings nationwide increased 10.9% from May and 5.5% year over

Strong growth of single-family construction spending drove the increase, while spending on multifamily construction was flat, the National Association of Home Builders said.