Will home prices drop in South Florida?
Home prices in South Florida are finally falling. Last month prices fell in Miami-Dade for the first time since 2021, and prices in Broward have dipped for the first time in months. For those who have been waiting for the market to cool down, this is great news.
Are real estate prices dropping in Florida?
Overall, the Florida housing market is still pretty hot and is expected to stay that way throughout 2022. This is great if you’re a seller because it means home prices are going up and there isn’t much selling competition—so you get the luxury of choosing from the best offers on your timeline.
Is the housing market slowing down in South Florida?
Broward single-family home sales decreased 26% year-over-year, from 1,625 in record-breaking August 2021 to 1,202 in August 2022, due to a lack of inventory and rising mortgage rates.