Saturday, June 4, 2022

Florida June 2022 Market Report

June 2022 Report

June 2022 Florida Real Estate Market Data Reports

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"Down payment is a less concern when compared to interest rates and prices

Down payment is another factor that affects the payment shares. In May, the median down payment was $45,000, making up 13.3% of the sales price. A larger down payment usually means smaller monthly payments, and thus, lower shares. Keeping the mortgage rate, home price, and income at the May level, down payments would have to fall to $34,123 (a down payment rate of 10.1%) to hit the 2018 peak, but even decreasing down payment to 0 doesn’t hit the 2008 peak. However, it is unlikely for the down payments to drop to such a low level in a short time, given continuously increasing sales prices shown in Figure 4 and an upswing  trend in down payment rate for recent months presented" 

Mashvisor "To get a better idea of the growing housing demand in the state, consider Miami, Tampa, and Orlando. According to Mashvisor, the three metro areas recorded average monthly rental prices of $3,477, $2,462, and $1,906, respectively, for a three-bedroom home. One of the said cities would probably be the best place to buy rental property in Florida if you’re considering going with a traditional long-term rental investment strategy." 

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This page will be expanded upon. Please check back to read more updates about Florida real estate market reports. Florida, USA. Posted June 4, 2022.

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