Florida Real Estate

Why 15 Florida Cities Were Named as Most Susceptible to a Possible Housing Downturn

It's no secret that the Florida housing market has had sharp price increases. Although as a whole Florida saw growth of about 24% year-over-year as of May 2022, some areas such much sharper increases. In fact, some areas saw so much growth that some experts called them "overvalued." According to data from Florida Atlantic University, Ft. Myers, Tampa, North Port, and Sarasota are some examples of these markets.
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You must make this salary to afford to buy a Florida home, study shows

Depending on where you live in the United States, if you make less than $76,000 a year and with the median price for a home nationwide being close to $370,000, odds are you won't be able to afford to buy that American dream home. That's according to data Visual Capitalist uncovered during quarter 1 of 2022, where it analyzed the salary needed to buy a home in 50 U.S. metro cities.
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Readers ask: What are local leaders doing about the housing crisis?

This is a first in a series of stories based on reader questions regarding the housing affordability crisis in South Florida. Q: What measures are being taken to make sure that moderately paid professionals, like teachers and most government employees, are able to secure and maintain housing? –Kimberly Rhoden, long-time teacher A: Both rents and home prices have boomed in South Florida since ...

This is the salary you need to afford a home in Florida

TAMPA, Fla. - It's no surprise that it's pricey to live in paradise. Florida's housing market surged in popularity during the pandemic, with Tampa seeing some of the sharpest rises in home prices in the entire country. The Miami and Orlando housing markets also experienced significant jumps — though rising mortgage rates are already slowing that momentum.

Terwilliger Brothers Breaks Ground in Florida

Plans call for the project to be completed by April 2023. The Terwilliger Brothers Residential LLC (TBR) has broken ground on its multifamily development in Palmetto, Fla. Trevesta Place will consist of 256 units between six different buildings. According to Yardi Matrix data, a construction loan for $34 million was secured through Hancock Whitney Bank in late 2021.

The short-term rental market took off during the pandemic’s real estate boom, but at what cost?

Needing places to either work from temporarily or vacation as they escaped pandemic restrictions, COVID fleers made South Florida one of their top destinations. And with them came an increased need for short-term housing, or vacation rentals. “It appears mostly in the Sunbelt states, particularly in Florida, in South Carolina, where we have beachfronts and parts of Texas,” Ken H. Johnson, real ...

Buyers' income rises along with home prices

A three-year study of buyers’ incomes shows the impetus for rising home prices in many of the nation’s hottest cities. A study by Redfin created a top-10 list of metros where buyers’ median income grew the most between 2019 and 2021. Of those, four are in Florida. Nationally, buyers’ incomes grew 6.8%; in those Florida metros, it hovered around 17%. [Source: Florida Trend]