“Florida’s housing sector continues to be a bright spot for the state’s economy amid the ongoing pandemic,” says 2020 Florida Realtors President Barry Grooms, a Realtor, and co-owner of Florida Suncoast Real Estate Inc. in Bradenton.
According to Florida Realtors Chief Economist Dr. Brad O’Connor, the September data reported a significant milestone for 2020: The year-to-date total of closed existing single-family home sales now exceeds the total from the first nine months of 2019.
“Given all that’s occurred this year, it’s hard to believe we’re already in positive territory again, but here we are,” he says. “And all indications are that we will continue to see strong sales this fall as mortgage interest rates will almost certainly remain at or near record lows.
The national inventory shortage is the biggest constraint to the housing market right now, O’Connor says.
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