Northeast Florida Housing Market May Be Stabilizing
The Northeast Florida housing market is showing some signs of stabilization. The Median Sales Price had a small decrease as compared to the month of June and there are more Active Listing on the market. Days on Market increased, giving home buyers more choices and more time to shop around.
Although interest rates have been creeping up the last several months, last week they fell below 5% for the first time in four months. Housing in our local market continues to be strong as prices begin to become a bit more affordable.
Some positive news from Lawrence Yun, chief economist for the National Association of REALTORS® who stated that a possible economic downturn is likely to be mild. Read more on the article in REALTOR® magazine.