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

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Although prices rose higher in June, there was tangible evidence that higher mortgage rates and inflation are beginning to put the brakes on the wild ride that Northeast Florida’s housing market has taken over the past two years.

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Rising prices and lagging affordability continued to plague First Coast home buyers as the year 2021 heads toward its end.

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Robust buyer demand fueled by low interest rates, historically low residential inventory, and the continued desire of out-of-staters to move to the Sunshine State, has caused Northeast Florida’s housing prices to surge.

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Despite the pandemic, 2020 was record-breaking year for home sales in Northeast Florida. The number of 2020 sales is an 8.2% increase over 2019 sales.

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The 2,680 homes sold in Northeast Florida was a 13% uptick over November 2019, but a decrease from each of the previous five months, where sales exceeded 3,000, in the latest market report from the Northeast Florida Association of Realtors.…

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Northeast Florida’s booming real estate market continued in October with 3,203 homes being sold; a 24.8% increase over the number sold in October 2019. October’s sales quantity also marked the fifth consecutive month where sales topped 3,000.

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While COVID-19 continued to be the hot topic of discussion, Northeast Florida’s real estate market sizzled as well as demonstrated by the Northeast Florida Association of Realtors’ June 2020 real estate market reports.

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April 2020 real estate market reports for Northeast Florida are now on NEFAR.com (Market Stats tab). Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

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February 2020 real estate market reports for Northeast Florida are now available on the Market Stats tab of NEFAR.com. Except where otherwise indicated, statistics reflect combined results for single-family residential and condominium properties.

After the typical January slump in …

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