A new report ranks some of Florida’s homebuyer markets among the strongest in the United States, led by regions such as Miami and Orlando.
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The report, released Tuesday by Redfin News, found that roughly 70% of the U.S. metro areas it examined were buyer’s markets. Those are areas where sellers outnumber homebuyers, which typically shifts the negotiating power to the buyers.
June’s strongest buyer’s market across the U.S. was Miami, which had an estimated 140% more sellers than purchasers.
Contributing to the imbalance between sellers and buyers is the “increasing frequency of natural disasters, which are themselves deterring some house hunters,” the Redfin report said. Also discouraging many would-be buyers are the higher home prices and insurance premiums, as well as rising homeowners association fees for many condos, the report said.
Some parts of the U.S. became stronger buyer’s markets in June, and Miami and Orlando were among them.
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Orlando drew 98% more sellers than buyers in June, an increase from 81% in May. Miami was at 140%, up from 127% the month before.
The Redfin report listed other metropolitan areas of Florida that were buyer’s markets in June: West Palm Beach, which had an estimated 86% more sellers than buyers; Jacksonville, with 74.4% more sellers; and Tampa, with 70%.
Fort Lauderdale was among the metropolitan areas excluded from the Redfin analysis due to insufficient data.
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