Rates Rise – House Prices Drop – Market Continues to Soften in Broward County

By Dave GrannisIn Dave, TeamPosted September 26, 2022

The market is certainly softening in South Florida and it will continue as long as rates stay high. Inventory is rising. The days of selling for over asking price are long behind us. The amount of price decreases on the MLS continues to increase.

The 30 year fixed mortgage rate is over 6%. Purchasing power of first time home owners has gone down by roughly 30%. A crash is not coming, but the market will continue to soften until we reach equilibrium. #sellyourhouse #homeinc #browardcounty

https://www.floridarealtors.org/news-media/news-articles/2022/09/aug-home-prices-drop-bit-s-fla

Take The Next Step

Get a free property analysis to find out what
your home is worth in the ever-changing real estate market.

Dave Grannis

Dave is rounding the corner on his first full year at Homeinc. Dave enjoys helping sellers accomplish their goals. He also takes pride in helping investors find profitable projects. His favorite part of working at Homeinc is the fact that there is something new everyday, and he is surrounded by great people. Dave currently holds the title of Homeinc Pop-A-Shot Champion. When not at the office, Dave enjoys playing golf and tennis.