The US real estate market runs in cycles. At a given moment it is the “Buyer’s cycle”, and at another it is the “Seller’s”.
Each cycle spans an average of 2 and a half years, sometimes a little longer. According to statistics data from the National Association of Realtors – NAR, the average length of time a residential property stays in the market for sale is six months. When sales occur in a shorter period of time, there is indication that the market is on the rise and is favorable to the seller (Seller’s Market).
However, when properties start taking longer to sell, it becomes favorable to buyers (Buyer’s Market).
The “Buyer’s Market” favors the buyer due to a large number of available options. That is when competition arises among sellers and everything becomes more flexible, including the prices. Today, Florida enjoys a strong “Buyer’s Market” and great opportunities await buyers. But expectations for changes in this cycle are already in the forecast because, as soon as measures to reduce such things as property taxes are approved by the Florida Legislative Congress, the prices will go up again and it will no longer be possible to find the kinds of opportunities we can find today. So don’t wait any further, take advantage of today’s opportunities, invest in a real estate property in Florida.