Cheryl Casone's FOX Business Network program highlights one couple from New Hampshire, who head for Key West, Florida, during a challenging real estate market.
The Florida Realtors Association notes that rising inflation, low inventory and rising rates are having an impact. the pinch of high inflationIn Florida, the median time to get to contract for a single-family existing home last month was nine days — same as May 2021.
Last month, closed sales of single-family homes statewide totaled 28,861, down 6.9% year over year, while existing condo-townhouse sales totaled 13,265, down 14.4% from May 2021, according to data from Florida Realtors Research Department in partnership with local Realtor boards and associations.This aerial drone photo shows a scenic view of Key West, Florida.
"The combination of low new construction and strong millennial demand will keep home prices firm," he said.
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