It was bound to happen. The Florida real estate market is coming apart. Sellers are in the market in large numbers. Buyers are not. The cause is almost certainly huge storms and the description and rising home insurance that they bring.
Realtor.com has released its April analysis of home prices, inventory, and sales. Nationwide, there are 34% more sellers than buyers. The number has been unprecedented since 2013 when the research began. Thirty-one of America’s largest markets favor buyers based on this metric. “There are an estimated 1.9 million home sellers in the U.S. housing market and an estimated 1.5 million homebuyers. In other words, there are 33.7% more sellers than buyers (or 490,041 more, to be exact).”
Florida Market Trouble…