How does inflation affect residential real estate, and is inflation good for real estate?
That depends on who you ask. Every market watcher advises buyers and sellers to hire an expert agent to keep a watchful eye on existing homes, new construction and condo prices and mortgage rates. Expert Lang Realty brokers know their markets in Palm Beach and Martin counties.
What happens to house prices during inflation?
Even the national outlook is optimistic about Florida homes maintaining and increasing their value: “The CoreLogic HPI Forecast indicates that home prices will drop by -0.1% from September 2024 to October 2024 and increase by 2.3% on a year-over-year basis from September 2024 to September 2025,” according to the data experts.
What are the benefits of owning a home in south Florida?
Residential home values, especially new construction, remain high. That “given,” besides the great weather, makes this state among the five most moved-to locales. And, of course, the advantage of either none or far fewer taxes: “The homestead exemption and Save Our Homes assessment limitation help thousands of Florida homeowners save money on their property taxes every year. Further benefits are available to property owners with disabilities, senior citizens, veterans and active-duty military service members, disabled first responders, and properties with specialized uses,” to quote the Florida Department of Revenue.
Florida is famous for having no income tax and doesn’t tax Social Security, IRAs, 401Ks or pensions. Tax-free sales holidays abound.
So how does owning a Florida home protect you from inflation?
Lang Realty real estate and financial experts will advise you to keep an eye on the Fed and mortgage loan rates if you’re exploring buying residential property now.
