Housing inventory levels in Florida have seen a significant increase recently after years of extremely tight supply. Here are some key points about the rising inventory situation in Florida’s housing market:

1. Sharp inventory rise: According to data from Florida Realtors, the inventory of active listings in Florida was up over 85% year-over-year in March 2023. This translates to around 4-5 months’ supply of homes for sale in many markets, compared to 1-2 months during the pandemic frenzy.
2. Seller influx: More homeowners in Florida are listing their properties for sale, driven by factors like the desire to cash in on high home prices, concerns about missing the peak of the market, or life changes necessitating a move.
3. New construction impact: An increase in new home construction over the past couple of years is also contributing to higher inventory levels across different price points.
4. Investor selling: Real estate investors who bought properties during the housing boom are now offloading some of their holdings in anticipation of a market cooldown.
5. Regional variations: While inventory is up statewide, the increase is more pronounced in some areas like Tampa, Orlando, and Miami, compared to others like Jacksonville.
6. Price adjustments: With more choices for buyers, properties that are overpriced or less desirable are sitting longer on the market, prompting some sellers to reduce asking prices.
7. Moderating sales: Higher mortgage rates and economic uncertainty have led to a moderation in home sales activity, further contributing to inventory buildup.

The surge in housing inventory in Florida provides more options for buyers who had been frustrated by the intense competition and lack of available homes during the pandemic boom years. However, it also signals a market shift that real estate investors and sellers need to navigate carefully.

As a multi-state MLO based in Utah, I am always looking for indicators in other states to predict what may be around the corner and what states I should focus my ad dollars in. Florida has been a great revenue generator for me over the past three years. I feel Florida will be a great place to stay focused in the next five years. That is why I hired my first MLO to the F1 Mortgage Team in Florida. FOMO (Fear of Losing Out) seems to be motivating out-of-state buyers to take a hard look at income properties in the state as well as people moving from other states to get in on the relative “good deals” in Florida as new residents of the Sunshine state. Employment opportunities in the state and work-from-home scenarios are making Florida very attractive to people who would never have looked at the state as a possible home 10 years ago.

If you are an MLO looking for new ground, I would suggest Florida. The state of Florida is massive and can benefit from quality MLOs looking to plant their MLO flag in the state. If you speak Spanish, the further South you prospect, the better.

Fani Willis is the Fulton County Georgia District Attorney trying Former President Donald Trump for Fraud of the 2020 Presidential election. However, Fani Willis is the one committing fraud via kickbacks from trips of her third party independent prosecutor

https://youtu.be/ZWgJspRqdck?si=tpyYeJ5dWTjCQKFB

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• This discussion was modified 1 year, 3 months ago by  Sapna Sharma.
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• This discussion was modified 9 months, 1 week ago by  Sapna Sharma.