Frank Plesko
Posts with tag 'Higher interest rates'
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Central Florida Real Estate Outlook - Summer 2026 to Spring 2027
Central Florida's real estate market will largely favor buyers between summer 2026 and spring 2027. Elevated mortgage rates and economic anxiety tied to Middle East conflicts have caused listings to linger. However, steady domestic relocation, stabilized prices, and rising inventory are creating a balanced, strategic environment.
Key Market Dynamics (Summer 2027 – Spring 2027):
• Pricing Trends: Over the past year, prices have stabilized or dipped slightly. Although
sale prices remain high, inside many transactions - sellers have been contributing more
heavily to buyer closing costs.
• Inventory & Leverage: Active listings have surged to their highest levels in years,
providing buyers with much-needed options and greater leverage to negotiate repair
credits, closing costs, and other concessions.
•
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Interest rates are higher, so why are central Florida home prices still rising?
In a word? Demand. Despite interest rates continuing to fluctuate between 6.5% and 7.0%, demand for central Florida homes continues to be very strong. For the 15th consecutive year, Florida real estate is the top choice for international buyers, with Canada being the largest group. The other large group of (non-Floridian) buyers have been coming from certain northern and western states that generally have higher taxes (see list below).
Five of the
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Why should I sell my home and buy again only to have a higher mortgage payment?
This brief Q+A may help you decide if NOW is a good time for YOU to sell your current home, then buy your next home!
Q – Won't prices come down because of higher interest rates? Isn't the market going to crash?
A – Rates have been higher since May 2022, and it is NOT happening. For July 2023, prices/values are flat vs. this time last year. It's been that way for about 3-4 months now. Demand for Florida (Orlando-area) housing is very high, with buyers from high-tax states as well as international buyers continuing to drive our market. Instead of prices coming down, savvy sellers and builders are offering interest rate buy-down cash contributions to buyers, which allow buyers to
