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Price Adjustments and the 2023 Market

Lamacchia Realty

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. The first quarter of 2023 had the lowest number of homes listed in recorded history.

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Price Adjustments in Florida Rise Rapidly

Lamacchia Realty

Source Condo inventory has been rising more than single families as sales have been decreasing since 2023. Source Inventory rises when more sellers are listing than buyers are buying. Since June of 2023, the time has risen from 28 days to 45 days in February of 2024.