Masterbeat Corp (MSTO)

[Dr Blunt]

According to the recent report by Florida Realtors, single-family home sales in January 2023 were down by 32.5% compared to the same period in the previous year, a trend that has persisted for several months. The decline in townhouse/condo sales was even steeper, at nearly 41%. While this is not unexpected given the high mortgage rates, it has resulted in a significant drop in buyer demand.

However, overall, the Florida housing market is strong and is predicted to remain so in the next five years. If you're a seller, this is wonderful news since it implies property values are rising and there isn't much selling competition, giving you the luxury of selecting from the best offers on your schedule. Higher mortgage rates may cause unprepared house buyers to postpone their purchases.