Let us dive into the why of these predictions and really understand why every year RTR is always incredibly accurate, year in and year out.

We have never had a more pivotal year in my lifetime at least. It feels like our country's future is hanging in the balance of this presidential election. The next decade of our economy will hinge on this election. With that said I am obligated to give predictions, which I have above.

Those that read last years crystal ball will notice that one of my predictions was way off. Not to any fault of myself... no one can predict the FED and their interest rates, if I could I would not be up at 4 am writing these reports. I would be on my yacht trading futures and commodities. I predicted mid 5% rates in 2023, I could not have been more wrong. RECORD spike in rates never seen in 40 years. Yet my predictions were still spot on with the metrics oddly?

I am going back to the well on predicting the unpredictable. Rates will lower into the mid 5% range in 2nd quarter I feel, to create a quick boost to our economy prior to the election.

This will create a surge in inventory from pent up owners stuck on the sideline when rates were 7% plus. This will also cause a nice run-on mortgage refinancing from those that did buy in the 7s and took advantage of amicable sellers. In the last year you could obtain closing cost contributions, actually have a financing contingency and how crazy is this, you were able to inspect what you were buying even.

As the summer buying season approaches and these rates that I predict will lower into the mid 5% , we will see a huge influx in qualified buyers. These lower rates will give thousands the ability to be approved that were not able at 7%. We will see prices continue to rise as the buyers will outpace the sellers. Builders are still fighting to keep up with supply and labor issues.

The resale market is always the most sensitive to drastic interest rate fluctuations, This will be no different, Sellers will benefit from multiple offers and climbing prices as these rates lower.

If you are planning on buying... now is the time if you are lucky enough to find something in this low inventory environment. Sellers are currently still open to offers and creative terms to sellt heir homes as days on the market have climbed almost 50%

Florida as a whole will continue to grow in population every year as our country's baby boomers continue to retire to the sunshine state.

The weather, economic and tax policies of the state are all still driving forces in Florida's desirability. The States policies on personal freedom and adhering to the constitution have been significant contributors to the historic spike in valuation and activity in the real estate market.