Florida inventory hits 7-year high, suggesting downward price pressure in H2 2024.

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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.

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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/

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