Florida Real Estate Market Report August 2022

USA and Florida August 2022 Real Estate Market Report.

National Assoc. of Realtors market update.

"On July 27, 2022, from 12:00 –1:00 p.m. Eastern, NAR held its virtual Real Estate Forecast Summit: Residential Update event, which provided an outlook on the residential market. The discussion also included consideration of international activity in the residential market."

Mashvisor update for 2022.

"Growing Renter’s Market. Jumping off from the previous two points, Florida continues to attract thousands of in-migrants, causing an increase in housing demand. At one point in 2021, several Florida markets saw a 24% increase in a matter of weeks. 

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. 

Florida data also shows that while there is a rising demand for rental properties due to people relocating to the state, only 34% of housing units are being rented out. It means that there is a lot of room for growth in the traditional rental market.

Let’s not forget about vacation rentals. Florida remains one of the top tourist destinations in the US, with over a hundred million visitors annually. Although the pandemic caused a decline in tourist numbers in the Sunshine State, 2021 was still a pretty strong year as it hosted 122.1 million visitors. With the easing of travel restrictions, the number of tourists is expected to be higher in 2022"

A RE/MAX agent in South Florida talks about the 2022 Florida real estate market.

Are we in a recession? The possibility of a housing crash? Avoiding foreclosure. What is ahead for the rest of 2022?

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This page will be expanded upon. Please check back to read more updates about Florida real estate market reports for August 2022 Florida, USA. Posted August 20, 2022.