* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 11, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Redfin Reports Home Prices Stagnate in Florida and Texas as Supply Soars

April 26, 2024
in Business
Share on FacebookShare on Twitter

The number of homes for sale in Cape Coral, FL and North Port, FL surged roughly 50% from a year earlier in March—more than anywhere else in the country. And in McAllen, TX, supply jumped 25%.

SEATTLE–(BUSINESS WIRE)–
(NASDAQ: RDFN) — On the west coast of Florida, housing supply is surging, sellers are cutting their asking prices and the time it takes to sell a home is soaring—all at a faster rate than anywhere else in the U.S. The story is similar in parts of Texas. That is according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

Here’s how these trends showed up in U.S. housing-market data for March, which covers 85 major metropolitan areas:

SUPPLY: Of the 10 metro areas that posted the largest year-over-year increases in supply, six are in Florida and two are in Texas. Cape Coral, FL saw the biggest jump in homes for sale (51%), followed by North Port-Sarasota, FL (48%), Fort Lauderdale, FL (30%), Tampa, FL (29%), McAllen, TX (25%), Orlando, FL (23%), Knoxville, TN (23%), Dallas (20%), West Palm Beach, FL (20%) and Cincinnati (17%).

PRICE DROPS: Of the 10 metro areas where sellers were most likely to cut their list prices, five are in Florida and two are in Texas. In North Port-Sarasota, 48% of listings had a price cut—the highest share in the country. Next came Tampa (44%), Indianapolis (43%), Cape Coral (41%), Denver (37%), Orlando (35%), Portland, OR (34%), Houston (33%), San Antonio (33%) and Jacksonville, FL (33%).

PRICES: Median sale prices fell from a year earlier in three metros, one of which is in Florida and one of which is in Texas: North Port-Sarasota (-4.6%), Oklahoma City (-1.5%) and San Antonio (-0.3%). Prices climbed least in Austin, TX (0%), El Paso, TX (0.5%), Memphis, TN (0.7%), Tampa (1.1%), Salt Lake City (1.1%), Omaha, NE (1.2%) and Charleston, SC (1.2%).

SPEED OF SALES: Of the 10 metros that saw the biggest upticks in median days on market, two are in Florida and two are in Texas: In Cape Coral, the typical home took 31 more days to sell than a year earlier—the largest jump in the nation. Next came North Port-Sarasota (20), McAllen (20), New Orleans (18), Tulsa, OK (13), Cincinnati (13), San Antonio (10), Greensboro, NC (8), Honolulu (7) and Knoxville (7).

Florida and Texas have been building more homes than anywhere else in the country, partly to accommodate the flood of newcomers that showed up during the pandemic homebuying boom. But the boom is over, in part because many people have been priced out. Now, homes are sitting on the market and price growth is stagnating.

“Out-of-town homebuyers no longer see Florida as a place to get amazing value. Now they’re moving to North Carolina or Tennessee to get a good deal. Many local blue-collar workers have been priced out of homeownership, too,” said Eric Auciello, a local Redfin sales manager. “Two years ago, the North Port metro was one of the most competitive housing markets in the country because it was affordable for remote workers and there was a shortage of homes for sale, but none of those things are true today. Sarasota, in particular, has been overvalued for decades, and the chickens have finally come to roost. The Tampa metro has been faring a bit better.”

Individual home sellers are having a tough time attracting buyers in part because builders are offering concessions that are hard for buyers to refuse. As a result, listings from regular sellers are sitting on the market. But homes are also sitting because many sellers are pricing their properties too high, and then being forced to cut later, Auciello said.

“The sharp ascent in Florida housing prices in recent years has driven a lot of homeowners to cash in on their equity, but some of them are having a hard time adjusting to the fact that it’s a buyer’s market,” Auciello said. “My advice to sellers is to price your home fairly; the comps from six months ago don’t exist now. And if you’re a buyer, know that the odds of getting an offer accepted below market value are pretty high.”

The insurance crisis in Florida is also throwing a wrench into home purchases and in some cases delaying deals. Nearly three-quarters of Florida homeowners say they or the area they live in has been affected by rising home insurance costs or changes in coverage, a recent Redfin survey found.

“One of our agents is representing a buyer who thought he’d be able to get insurance for $2,000 per year—the rate the existing homeowner has. But he found out at the eleventh hour that his insurance will be $4,000 because the house has had water damage. We’re seeing sellers offer a lot of concessions to hold deals together,” said Auciello, whose own home insurance is now $14,000 a year all in, up from around $8,000 two years ago. “We’re at an inflection point. A hefty insurance bill isn’t always a big deal for a luxury buyer, but it can be a really big issue for someone buying a waterfront home on a smaller budget.”

Connie Durnal, a Redfin Premier real estate agent in Dallas, said her market has also been sluggish.

“Last year was by far the slowest market I’ve seen in my 20 years as a real estate agent,” Durnal said. “Move-up buyers are almost nonexistent. Even though a lot of homeowners have built up a ton of equity, many don’t want to sell because their monthly payment would double or triple due to high mortgage rates.”

Nationwide, New Listings Slowed in March and Prices Rose From a Year Earlier

New listings dropped 6% month over month in March—the largest decline on a seasonally adjusted basis since January 2022. They rose 6% from a year earlier, but that marks a deceleration from the 14% annual gain in February.

New listings may have slowed because mortgage rates are staying higher longer than expected, which is exacerbating the lock-in effect. The average 30-year-fixed mortgage rate in March was 6.82%—the highest since December—and the Federal Reserve has warned that elevated inflation will probably delay the interest-rate cuts they had been planning this year.

Prices continued to rise, in part because there’s still a shortage of homes for sale. The median U.S. home sale price rose 5% year over year in March to $420,357, just 3% below the record high of $432,496 set in May 2022.

Home sales were roughly flat compared with a month earlier on a seasonally adjusted basis, and were down 3% from a year earlier.

March 2024 Highlights: United States

March 2024

Month-Over-Month Change

Year-Over-Year Change

Median sale price

$420,357

2.1%

4.8%

Homes sold, seasonally adjusted

423,273

-0.2%

-2.6%

New listings, seasonally adjusted

509,405

-6.3%

6.1%

All homes for sale, seasonally adjusted (active listings)

1,600,310

0.6%

4.3%

Months of supply

2.4

-0.5

0.3

Median days on market

40

-8

-4

Share of for-sale homes with a price drop

16.3%

1.1 ppts

2.8 ppts

Share of homes sold above final list price

30.0%

3.8 ppts

1.6 ppts

Average sale-to-final-list-price ratio

99.2%

0.5 ppts

0.4 ppts

Average 30-year fixed mortgage rate

6.82%

0.04 ppts

0.28 ppts

To view the full report, including charts and additional metro-level data, please visit:

Home Prices Stagnate in Florida and Texas as Supply Soars

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We run the country’s #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix it up to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we’ve saved customers more than $1.6 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 4,000 people.

Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email [email protected]. To view Redfin’s press center, click here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240425739544/en/

Redfin Journalist Services:

Ally Braun, 206-588-6863

[email protected]

Source: Redfin

Released April 25, 2024

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : RedFin – https://investors.redfin.com/news-events/press-releases/detail/1091/redfin-reports-home-prices-stagnate-in-florida-and-texas-as

Tags: businessRedfinReports
Previous Post

Redfin Reports Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage Rates Rising

Next Post

AI takes center stage at Beijing Film Fest

Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

July 11, 2025
Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

July 11, 2025
International call for freedom for environmentalist Onur Yılmaz – ANF English

International call for freedom for environmentalist Onur Yılmaz – ANF English

July 11, 2025
This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

This week in science: a comet, plastic-eating bugs, and how altitude changes smell – KUOW

July 11, 2025
Science Museum of Minnesota cutting more than 40 full-time employees – CBS News

Science Museum of Minnesota to Cut More Than 40 Full-Time Jobs

July 11, 2025
Doctors say we’ve been misled about weight and health – ScienceDaily

Doctors Reveal the Truth About Weight and Health That You’ve Been Misled About

July 11, 2025
Sierra Club breaks record for world’s largest display of origami fish to protest Line 5 – News From The States

Sierra Club Creates Giant Origami Fish to Break World Record and Protest Line 5

July 11, 2025
Senate Democrat: Trump economy full of ‘uncertainty,’ ‘chaos’ – The Hill

Senate Democrat Warns of ‘Uncertainty’ and ‘Chaos’ in Trump Economy

July 11, 2025
Arts and entertainment events happening July 10th-13th across the Mid-Ohio Valley – WTAP

Unmissable Arts and Entertainment Events Happening July 10th-13th in the Mid-Ohio Valley

July 11, 2025
World’s Premier Cancer Institute Faces Crippling Cuts and Chaos – KFF Health News

World’s Leading Cancer Institute Grapples with Devastating Cuts and Turmoil

July 11, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (715)
  • Economy (738)
  • Entertainment (21,626)
  • General (15,827)
  • Health (9,775)
  • Lifestyle (745)
  • News (22,149)
  • People (740)
  • Politics (748)
  • Science (15,956)
  • Sports (21,237)
  • Technology (15,724)
  • World (721)

Recent News

Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

July 11, 2025
Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

Angel Reese’s rebounding greatness summed up in one wild statistic – Yahoo Sports

July 11, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version