Florida's housing market cools with significant drops in pending sales in major cities.

Florida's housing market is slowing down, especially in key metro areas like West Palm Beach and Fort Lauderdale, with a 14% and 15.2% drop in pending home sales year-over-year, respectively. Rising home insurance costs, higher HOA fees, and natural disasters contribute to the decline. Despite this, a real estate agent suggests that the sales dip is typical for late summer and early fall and not a cause for alarm. The market may see an uptick following the election and the arrival of winter migrants.

November 25, 2024
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