New data released this week by real estate brokerage Redfin shows home purchases in Jacksonville fell through at a higher rate than anywhere else in the country last month.
The red-hot housing market seen last year in Northeast Florida is a thing of the past. shows home purchases in Jacksonville fell through at a higher rate than anywhere else in the country last month.
Northeast Florida experienced a huge pandemic-fueled boom in housing prices last year and thanks to low mortgage rates and thousands of people flocking to the state. But home purchase cancellations and other metrics show that’s no longer the case. Northeast Florida Association of Realtors President Mark Rosener said deals falling through has a lot to do with new home construction and rising mortgage rates.
Rosener said the housing market is beginning to look like it did back in 2019 when things were more “normal.” He said that’s good for buyers and sellers.
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