Florida Housing Market Weathers Storm of Higher Interest Rates

Mortgage rates more than doubled the past two years …


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 …

Illustration of Florida with the following areas indicated: Jacksonville MSA; Tampa-St. Petersburg, Clearwater MSA; Orlando-Kissimmee-Sanford MSA; Palm Beach County; Broward County; and Miami-Dade County

And the percentage of homes purchased with cash ticked up only in South Florida

Alex Stewart

Alex Stewart is founder and CEO of The Market Distillery, a Jacksonville-based real estate market research firm.