Author: Florida Real Estate News

The Decline of Vacation Homes: A Market in Freefall As concerns about a housing market collapse loom, vacation homes are being offloaded at an alarming rate. Recent data reveals a striking drop in second home purchases, highlighting the complexities of today’s real estate landscape. Unprecedented Decline in Second Home Purchases The U.S. is witnessing a catastrophic decline in second home transactions: In 2024, only 86,604 mortgages for vacation homes were issued, representing a 5% decrease from the previous year and a staggering drop from 258,289 during the pandemic boom in 2021. Vacation homes accounted for just 2.6% of all U.S.…

Understanding Affordable Housing in Northeast Florida: A Deep Dive JACKSONVILLE, Fla. – Affordable housing is a term that frequently appears in discussions about the housing market, but what does it truly mean? In this article, we take a closer look at housing affordability in Northeast Florida, how it is measured, and the current market landscape. What is Affordable Housing? Housing experts define “affordable” as spending no more than 30% of your income on housing. For Jacksonville, with a median household income of $81,107, this equates to a monthly housing cost of approximately $2,027. However, many residents find that their housing…

Navigating the Housing Market in Punta Gorda: Glenn Martin’s Story Glenn Martin is currently caught in a whirlwind of emotions as he fixes up his home in Punta Gorda, Florida, with plans to sell. His anxiety stems from repeated hurricanes that have wreaked havoc on his property and the surrounding community. With a heavy heart, Martin raises concerns over the potential destruction of his hard work before he can secure a buyer. The Stormy Reality of Punta Gorda Hurricane Helene, which hit last September, left Martin’s home severely damaged, but it isn’t the first time he has faced such challenges.…

U.S. Vacation Rental Market Faces Significant Decline Amid Rising Costs As summer approaches, prospective vacationers seeking rental properties may encounter unexpected challenges this year. Recent data from real estate brokerage Redfin highlights a major downturn in the vacation rental market, prompting concerns for both owners and potential buyers. Decline in Vacation Home Ownership According to Redfin’s analysis, the number of vacation rental owners has plummeted to its lowest level since data tracking began in 2018. Key insights from the report indicate that: 86,604 mortgage applications for vacation homes were submitted in 2024—a 5% decrease from the previous year. Rising Costs…

South Florida Housing Market: Trends and Forecast for 2025-2026 Are you considering buying or selling a home in South Florida? With price predictions in mind, you’re not alone. The South Florida housing market is expected to stay robust through 2025 and 2026. While no future forecast is ever certain, signs indicate ongoing, albeit potentially moderating, price appreciation and healthy sales across Miami-Dade, Broward, and Palm Beach counties. Let’s dive deeper into what’s influencing this upbeat forecast. Why South Florida? The Allure of Living in Paradise Before we dive into the numbers, let’s explore why South Florida remains a top choice…

The Florida Housing Market: Insights and Opportunities for 2024 Is now a good time to buy or sell in Florida? The Florida housing market can be tricky to navigate, especially with its constant fluctuations. In this article, we’ll break down the key trends of 2024 and what they might mean for potential buyers and sellers. 2024: A Year of Shifting Sands The Florida real estate scene saw various adjustments in 2024. Mortgage rates remained relatively high, impacting buyer decisions and market dynamics. Here are some notable trends: Increasing Inventory: More homes were available for sale, giving buyers increased options and…

Florida’s Real Estate Market: Shifting Trends Amid Climate Concerns Focus Keyword: Florida Real Estate Market The Florida real estate market, known for its vibrant $180 billion industry, faces unprecedented challenges as more residents, like retired import and export agent Sergio Blandón, reconsider their living situations. After three years in Florida, Blandón, now 71, has decided to return to his homeland in Managua, Nicaragua, seeking relief from rising costs associated with mortgages and high home insurance. Climate Change: A New Influence A series of severe hurricanes and sizzling summer temperatures over recent years have caused the state’s idyllic reputation to wane.…

Discover Coastal Luxury at The Islands of Islamorada: Exclusive Villas Now Available Experience the perfect blend of coastal elegance and island charm in the heart of the Florida Keys. Location: Islamorada, Florida Date: February 20, 2025 The Islands of Islamorada is thrilled to announce the launch of real estate sales for 22 exquisite single-family waterfront villas. Nestled in one of the most desirable destinations in the Upper Florida Keys, these beautifully designed homes offer a chance to own a slice of paradise, complete with luxurious amenities and unmatched access to the tranquil waters of the Atlantic Ocean. Pricing begins at…

The Future of Florida’s Housing Market: Insights for 2025-2026 The Florida housing market remains a focal point for buyers, sellers, and investors attracted by its beautiful beaches, bustling cities, and a vibrant tourism industry. Over the years, this lucrative market has seen significant growth, but the question on everyone’s mind is: Is a downturn looming ahead? Fortunately, experts predict that while growth may moderate due to rising interest rates, a market crash is unlikely in the next two years. Florida Housing Market Outlook for 2025-2026 Forecasts for the Florida housing market indicate a continued positive trajectory through 2025 and 2026,…

Real Estate Investors Retreat from Florida Amid Declining Market Conditions The Current State of Florida’s Real Estate Market Real estate investors are rapidly pulling back in Florida, more so than in any other state in the U.S., as the property crisis intensifies. A new report from Redfin highlights that three of the five areas with the largest drops in investor purchases are situated in Florida. Key Statistics and Trends Orlando: Investor purchases plummeted by 27.5% year-over-year—the largest decline among major U.S. metros. Miami: Home purchases fell by 21.3%. West Palm Beach: Investor activity decreased by 14.5%. Chicago: For comparison, investor…