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US Home Prices Hit Record High

aociswundumho said:
They're not coming down, and if interest rates drop, demand will increase, and prices will rise further.

www.redfin.com

United States Housing Market & Prices | Redfin

Wondering how competitive the U.S. housing market is? Find the median U.S. house price, housing demand, supply and real estate trends with Redfin.
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There are nearly 200,000 homes for sale in Florida alone. Prices come down when supply is that high.
 
iguanaman said:
There are nearly 200,000 homes for sale in Florida alone. Prices come down when supply is that high.
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Florida is a special case. The state government destroyed the condo market by requiring milestone inspections every ten years. The repairs can run over 100k per unit. HOA fees and special assessments are getting insanely high. This dumb shit also makes it very difficult to get a mortgage.

For single family houses, homeowners insurance is running 2x to 3x the national average. All of this makes living in florida much less desirable, hence the increase in supply.
 
aociswundumho said:
Florida is a special case. The state government destroyed the condo market by requiring milestone inspections every ten years. The repairs can run over 100k per unit. HOA fees and special assessments are getting insanely high. This dumb shit also makes it very difficult to get a mortgage.

For single family houses, homeowners insurance is running 2x to 3x the national average. All of this makes living in florida much less desirable, hence the increase in supply.
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LOL Yes why should condos that might fall down be inspected? It is obtrusive to protect people from their homes collapsing. Florida is still the fasted growing State in the US BTW.

Between 2010 and 2020, national growth dipped from 0.9% to 0.5% each year while Florida's increases ranged from 1% to 2%. In 2022, Florida's growth was nearing that previous decade high at 1.9%, not high compared to past gains but still the fastest among the states.

https://www.floridabusiness.org/media-center/blog-and-economic-scene/florida-fastest-growing-state-for-first-time-since-1957.stml#:~:text=Between 2010 and 2020, national,the fastest among the states.
 
This really is 2003-2006 all over again
 
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