Welcome to our September 23 market update.

I’m here to break down the latest housing market statistics released by Florida Realtors.

So, let’s Jump Right In!

Starting with Statewide data on closed sales of existing single-family homes.
Now before we delve into September’sperformance let’s set the stage by looking at last year’s sales Trend and comparing it to 2019.
Now we’re using 2019 as a reference that it was the last full pre-pandemic year and in ’22 sales are robust during the low mortgage rates; however as the year unfolded and mortgage rates climbed ’22’s closings fell significantly below 2019.

Towards the end of ’22 mortgage rates eased a bit boosting sales in early 23 but for most of us this year rates have been slowly rising so while 23 sales haven’t worsened dramatically they have seen substantial improvement either.

Now besides closed sales let’s consider homes that went under contract this can provide insights into future closings for single-family homes new pending sales in September dipped compared to August which is typical due to the seasonal variations however looking at the year-over-year change there was only a very slight on10th of 1% decline shifting to the supply side let’s focus on new listings in September although ’23 started with record low listings, recent months have shown some recovery getting closer to pre-pandemic levels.

In September new single-family listings even surpassed 2019 levels marking an 8%year-over-year increase.

With a seasonal decline in pending sales and the improvement in listings, we ended up with more active inventory at the end of September than at the beginning of the month single-family home Inventory is slightly higher than last year but still below pre-pandemic levels in 2019.

Now with inventory levels showing improvement but not quite reaching-pandemic levels home prices have remained relatively stable this year.

I’m Alexia Clemens with White Brick Real Estate.
The Cornerstone for Negotiating YOUR Real Estate Relationships.