For homebuyers in 2024, securing mortgage pre-approval and reducing existing debt are crucial steps.A survey indicates 41% of Americans plan to buy a home in 2024 despite challenges in the housing market.
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Median sales prices ↑ to $615K for a house and $420K for a condo in Miami-Dade County in November. Despite rising supply, high demand in South Florida has kept housing prices resilient, presenting challenges for aspiring homeowners.More options are available for home buyers, with Miami-Dade having a 4.4-mo supply of houses and 6.8-mo of condos.
National Avg: In Q3 2023, 35% of U.S. home sales involved seller concessions. Florida Metros: Miami (35.4%) and Orlando (34.3%) align with the national avg. Tampa Surge: Tampa saw a notable rise, with 43.1% of sales involving concessions.
Florida dominates the nation's top housing developments, with Babcock Ranch, Ave Maria, Lakewood Ranch, and Wellen Park seeing increased sales. Tampa General Hospital plans to expand into Babcock Ranch. Florida accounts for 40% of sales in top US master-planned communities. Warby Parker has also opened its first physical stores in Southwest Florida. Continue to full…