This is according to Florida Realtor magazine:
- Rents are rising at a faster pace than home prices. Especially in central and coastal Florida.
- Mortgage interest rates are still favorable.
- In most of Florida, it is still cheaper to buy than rent.
- We’re nearing the end of the era of low mortgage rates and moderate home prices.
- Personal income is starting to rise again.
- Housing demand still exceeds supply. If you wait, it may be harder to find an ideal home at a price you can afford.
- Millennials, the largest cohort in history, are reaching their peak home buying years. This could further tighten the supply of homes for sale.
Hottest Zip Codes Based on Supply and Demand:
33778 Largo, 32708 Winter Springs, 32826 Orlando, 32904 Melbourne, 33624 Tampa,
32828 Orlando, 32905 Palm Bay, 32765 Oviedo, 32907 Palm Bay, 32825 Orlando