Inventory in Florida is now officially at its highest level in at least 7 years.
141,000 active listings in July 2024.
Up 70% from last year. And 276% from pandemic low.
These type of inventory gains are huge and suggest big downward price pressure in H2 2024. Be careful if… pic.twitter.com/iHhGO27fjh
— Nick Gerli (@nickgerli1) August 6, 2024
Florida’s housing inventory has reached a significant high in 2024. As of March 2024, the inventory of single-family homes in Florida was 81,603 units, marking a 24.8% year-over-year increase. This surge in inventory is the highest seen in several years and is expected to put downward pressure on home prices in the second half of 2024.
This increase in inventory provides more options for buyers, potentially leading to more negotiating power and lower prices. For sellers, it means more competition and the need to adjust strategies to stand out in a crowded market.
Sources:
flhousingmarket.com/housing-inventory-2024/
flhousingmarket.com/florida-housing-market-jan-2024/