“Home prices continued sending mixed signals in October”

by Calculated Risk on 12/04/2023 10:12:00 AM

Today, in the Calculated Risk Real Estate Newsletter: IICE (Black Knight) Mortgage Monitor: “Home prices continued sending mixed signals in October”

A brief excerpt:

And on Florida inventory:

Houing Inventory Florida

Florida has experienced some of the largest inventory gains in recent months

• In fact, six of the nine markets seeing the strongest inventory growth over the past three months – Palm Bay (+22pp), Lakeland (+21pp), Tampa (+19pp), Cape Coral (+18pp), North Port (+16pp) and Orlando (+14pp) – are located in the Sunshine State

• Inventory in Lakeland is now 15% above 2017-2019 averages, surpassing Austin for the largest surplus of homes for sale compared to prepandemic levels

• While Miami has also shown inventory improvements it continues to have the deepest inventory deficit in the state with 42% fewer homes for sale compared to 2017-2019 same-month averages, in line with the national average

Florida will be worth watching in coming months to determine if rising inventory levels lead to softening prices
emphasis added

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