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 …
![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](https://v9d5g3j5.rocketcdn.me/due-diligence/wp-content/uploads/sites/179/2024/02/FL-Map.png)
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.