Mortgage increases appear to be having a big impact as the Northeast Florida housing market heads into the busy summer selling season.

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Closed and pending sales for housing in Northeast Florida increased in February, which is rare at this time of the year. The combined number of single-family homes, condos and townhouses in the region rose almost 26% from January to February …

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It may only be February, but when it comes to buying and selling homes in Northeast Florida, it seems that spring is already here.

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A “new normal” has taken over Northeast Florida’s housing market.

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Although prices continued to rise in May, Northeast Florida’s housing market began to show continued signs of a moderating trend that should make both buyers and sellers rejoice.

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The good news is there were slightly more Northeast Florida homes on the market in April. However, prices have continued to rise, and homes are becoming increasingly less affordable.

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Although sellers remained firmly in the driver’s seat as the first quarter of 2022 came to an end in March, several factors point toward a more moderate and stabilizing real estate market in Northeast Florida.

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Nationwide, the 2021 housing market was one for the history books, and the same was true for Northeast Florida.

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Although the bidding wars that drove up housing prices in Northeast Florida this summer have cooled somewhat, the region’s hot residential market shows no signs of diminishing, even as temperatures outside becoming colder.

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Homes in Northeast Florida are becoming less and less affordable.

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