Category: Jacksonville
Interest rates chill home sales in Northeast Florida – Jacksonville Today
High interest rates are putting an unusual summetime damper on homes sales in Northeast Florida. Sales normally rise in June, but both closed sales and pending sales are down this year — a sign that interest rates around 7% are keeping buyers on the sidelines, according to the Northeast Florida Association of Realtors Closed sales declined nearly 11% from May to 1,907 in June, and pending sales plummeted 35% to 1,261, the Realtors group said in a news release Thursday. The median sales price for a single-family home rose 1.3%…
Read MoreJune prices hit record high, but Northeast Florida home sales show signs of slowing – Jacksonville Daily Record
While the median price of a single-family home hit a record high in Northeast Florida in June, the real estate market is showing signs of slowing, according the Northeast Florida Association of Realtors June sales research. “Although the median price of single-family homes rose 1.3% over the region to $405,000, other factors indicate that the market has stabilized and that interest rates that hover around 7% may be finally catching up with buyers,” NEFAR said July 11 in a news release. NEFAR reports monthly home sales in Baker, Clay, Duval,…
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