August 2024 MARKET UPDATE Northeast Florida
MARKET UPDATE Northeast Florid a
In Jacksonville, Florida, as of August 8, 2024, the Northeast Florida housing market is shifting towards greater balance, offering encouraging signs for buyers. The July Market Statistics report from the Northeast Florida Association of REALTORS® (NEFAR) indicates that the market is stabilizing, with median prices slightly down and the Home Affordability Index improving. While the market isn’t fully balanced yet, inventory is rising, and homes are spending more time on the market, suggesting continued progress toward a traditional balanced marketplace despite economic challenges and high inflation, according to NEFAR President Rory Dubin.
