Florida’s housing market experienced a positive shift in July 2024, with increased new listings, improved inventory levels, and a slight moderation in median sales prices compared to the previous year. This positive trend suggests a potential easing of housing affordability issues in the state.
March New Home Sales climbed 8.8% month-over-month to 693K, exceeding expectations of 668K and the revised February figure of 637K. The median sales price of new houses surged to $430.7K, significantly higher than the previous month’s $400.5K. The average sales price also witnessed an increase, reaching $524.8K compared to $485.0K in January. At the end of March, the estimate of new houses for sale stood at 477K, indicating an 8.3-month supply at the current sales rate.
