Reported about 1 month ago
Florida's housing market is experiencing a significant downturn as high insurance premiums and concerns over increasing hurricane activity discourage buyers. Many homeowners, like Anthony Holmes, are unable to sell their properties, facing diminishing offers and dropping prices. The market inventory has surged by 50% in major cities, and with some insurance premiums soaring by up to 400%, sellers are growing desperate. While some areas, such as Miami, remain stable due to wealthy cash buyers, the overall forecast for Florida's housing market appears bleak.
Source: YAHOO