The Florida housing market has certainly boomed, with an enormous flux of people and homes for sale since the pandemic in 2020 an no more of a secret place to relocate. Many relocated and took advantage lifted operations to work in the office. I wrote an article in 2020 stating this is why families are relocating here to include better climate, real estate less expensive, no State tax and work at home.
This made perfectly good sense to take advantage and relocate where many houses are for sale and cost of living is less expensive where they already live.In theory, this is a raise saving money and not purchasing winter clothes. As for July 2022 the housing inventory increased 4.8 percent from June 2022. and inventory up from 3.3 months of supply. Freddie Mac reports about 3 million homes are reporting short of buyer's demands, although buyer demand still lurks due to inflation and buyers are not sure of the future of purchasing a home. Click here to learn more about Orlando Real Estate /ORLANDO-REAL-ESTATE---32819---32836---Dr-Phillips-6-23620.html?
We are still dealing with an extreme crisis last quarter of 2022. its not truly a housing crisis it's an information crisis. This is why as a trusted advisor I bring it to you. Confusion and imminent headlines trip up consumers on a daily basis. If not guided properly many buyers and sellers seemed overwhelmed and not as sure how to proceed.
Tourism took a deep dive in the pandemic, this is to include closing Disney World for a period of time. Many hotels and businesses took a big hit as well in the local economy, Central Florida depends on the tourism revenue annually. About 80 million people visit and vacation to Florida for various reasons. Many end up returning and purchase a home for a better quality of life. Click link to know more about Florida Realtors /FLORIDA-REALTORS---32819---32836---Dr-Phillips-6-23610.html
In a perfect housing market, the number of available homes on the housing market is generally market would be somewhat equal to the amount of buyers. no bidding wars price hikes, and an abundant of homes to choose from to find that perfect home. The number of homes for sale is still far less than the demand, to be specific about 40 percent.
The State of Florida job market in March 2022 seems to have a low unemployment rate between 3.2 through 4 percent with a variety of jobs and a good portion are in retail and entertainment. Remember Central Florida is the entertainment Capital for families of all cultures to enjoy. Many jobs and businesses are always opening for service to serve the public. There are many industries and lines of work to certainly choose from such as security, aerospace, information technology and as always manufacturing.
Traveling throughout the State of Florida In Tampa, the large job market jobs are Ernst & Young, USAA,Bristol Myers and Well Care. In Tallahassee, Blue Cross, EMS has their headquarters based here. The Capitol of Florida, Orlando major headquarters or Verizon, JP Morgan Chase Bank, Siemens and Tupperware. Miami offers Royal Caribbean Cruises, American Express, Citibank and Mastercard all corporate offices. Lastly Jacksonville offer their corporate headquarters Winn Dixie, Bank of America, Deutsche Bank and the PGA Tour.
Home buying in Florida is a wonderful experience, especially if you are coming from a cold weather State. In Central Florida alone The housing inventory from this time last year Nov 2021 to November 2022 jumped about 28 percent. Currently inventory is still low as houses are coming back on the Florida housing market.
Even though the spike in the interest rates stifled the first time buyers that make up 30 to 40 percent of homebuyers. When searching for a home find a trusted advisor, military veteran and professional realtor such as Kevin Strawter who is always on the pulse of the Florida housing market for the Dr Phillips and the Central Florida area. Feel free to contact him at 850 496-6412 and stay tuned, connected and educated in this volatile Florida housing market to purchase or the sale of your home. Click link to know more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html