Florida Housing Market Weathers Storm of Higher Interest Rates
Mortgage rates more than doubled the past two years …
3%
6.8%
Causing monthly mortgage payments to spike up across Florida …
Average monthly principle and interest (P&I) for Florida median-priced home
Yet the number of Florida homes sold held fairly steady …
And the percentage of homes purchased with cash ticked up only in South Florida
Contributor:
Alex Stewart is founder and CEO of The Market Distillery, a Jacksonville-based real estate market research firm.