WRE News: South Florida Real Estate Trends Point to Opportunities in 2024

Miami, FL – January 2, 2023 – Looking to buy or rent in South Florida this year? Good news awaits, according to real estate experts. The region is experiencing a slowdown in home sales, particularly in high-rises, leading to a surge in available residences. While prices are expected to dip slightly, it won’t be a free-for-all, as the market adjusts from the unprecedented highs of the past. Jack McCabe, owner of Jack McCabe Expert Services, predicts a shift from the previous market dynamics, emphasizing a moderation in unrealistic and inflated prices. Amid concerns about affordability and workforce housing, experts anticipate a stabilization of prices but acknowledge the challenges faced by those earning 50% or below the area median income. Although the real estate landscape is evolving, the prospect of increased inventory and more favorable prices may offer opportunities for buyers and renters alike in the dynamic South Florida market.