2021 was a record year for real estate in South Florida, yet the last eight months of 2022 have been about the market slowing. Questions linger as to how bad the decline in the market is and whether it’s headed for a crash.
There’s little doubt that the market has slowed over the past six to eight months: closed sales are down as buyers grapple with rising interest rates, it’s taking longer to sell a home, and bidding wars are not as common as they once were.
That doesn’t necessarily mean that the South Florida market is crashing.
