T
he Florida real estate market is shifting from a pandemic-driven frenzy to a more balanced landscape. Kent Justice spoke with Tim Weisheyer, president of Florida Realtors, about what homebuyers and sellers can expect. As the largest realtor association in the US, representing over 220,000 members, Weisheyer emphasizes that every decision impacts 1/5 of the state economy.

    The market is stabilizing after the pandemic years, with single-family home prices leveling off and approximately 5.5 months of inventory available. The condominium market is experiencing strategic adjustments, with recent reforms introducing new transparency measures. Buyers are in a strong position, with enough inventory to choose from.

    Weisheyer advises against waiting for lower prices, as they're unlikely to come down. He also emphasizes the importance of hurricane preparedness and suggests "marrying the home and dating the rate," meaning buying a home and refinancing later when interest rates change.

    Home ownership is a key wealth builder, according to Weisheyer, who concludes that it's where people grow their families, live their lives, and achieve their dreams. As with any market, conditions vary, and consulting a local real estate professional is recommended for specific guidance.