FLORIDA: A TOP 10 STATE FOR STABLE HOUSING
Realtor.com’s high-level view of housing markets – foreclosures, underwater mortgages, rising prices, etc. – finds Fla. ranking third in overall stability.
U.S. home prices continue to hover at historic highs with bidding wars in some areas, even as the inventory of listed homes starts to increase and housing markets across the country begin to show signs of stabilization.
A revised Realtor.com 2022 forecast expects U.S. sales to decline by 6.7% this year, versus 6.6% previously.
10 U.S. states with the most stable housing markets
Utah
Washington
Florida
Texas
Idaho
Tennessee
Vermont
Arizona
South Carolina
South Dakota
Florida, ranking third, shows home prices rising but construction also gaining. The state has 9.6 housing starts per 1,000 residents, while its foreclosure rate stands at 1 in 1,211 housing units. Its underwater mortgages constitute 1.4% of all mortgages, and housing prices are currently appreciating at a rate of 25.7%.
Source: Florida Realtors®