By Newsweek
Jun 18, 2024
The jump in listings of homes for sale in Florida points to a market that is about to experience price declines and sellers entering the market, a real estate analyst pointed out on Tuesday.
Nick Gerli, CEO and Founder of real estate analytics firm Reventure Consulting, pointed out in a series of posts on X, formerly Twitter, that housing prices in the Sunshine State could be on the way down.
“This housing market downturn in Florida is getting crazy,” Gerli said in a post. “There’s ZIP codes where inventory has nearly tripled from its level last year.”
He went on to say that the rise of listings was a “sign of a major selloff. And indicates prices are likely to drop in the [second half of this year.]”
