New data from Realtor.com’s Housing Trends Report shows a 13.5% increase in home listings across South Florida for the year 2023. The same report showed South Florida’s median list price was $580,000 in December, down 2.5% from 2022.
New listings in South Florida grew 13.5% from 2022. Realtor.com chief economist Danielle Hale told South Florida Agent Magazine that inventory improvements are being seen across the country, especially in the South, which experienced a 7.7% year-over-year increase in active listings. However, the number of homes for sale still hasn’t reached their pre-pandemic levels.
“While the uptick in December inventory levels is encouraging, it is important to note that two-thirds of outstanding mortgages in the U.S. have a rate under 4% and more than 90% have a rate less than 6%,” Hale said. “We are optimistic that inventory levels are moving in a positive direction, but the number of homes on the market is still low relative to pre-pandemic levels. Some sellers are clearly motivated already, but other households may hold out for lower rates before selling or moving to new homes.”
