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Housing market shifting toward affordability, Northeast Florida Realtors say

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Housing market shifting toward affordability, Northeast Florida Realtors say


JACKSONVILLE, Fla. – The Northeast Florida Affiliation of Realtors says the housing market is shifting towards affordability.

Charges skyrocketed over the previous few years. Excessive hire, inflation, insurance coverage firms leaving the state and a property insurance coverage disaster have all contributed to this.

Mark Rosener, the 2022 president of NEFAR, says we might begin to see some aid quickly.

“The median costs available in the market as in whole, in addition to the person markets that we do enterprise in, appears to have stabilized,” Rosener mentioned. “It bumps up somewhat bit, down somewhat bit. However, for those who common it out, it just about stayed the identical.”

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Rosener additionally says rates of interest have leveled off — which, earlier this 12 months, made it laborious to afford locations to remain.

Now, extra persons are working in our space, which bumps up median incomes.

The affordability index fluctuates. NEFAR gave News4JAX knowledge exhibiting the place some Northeast Florida counties rank as of August. Duval County got here in at 79.5 — a small improve from July at 79. Clay County was at 75 — a 5.6% improve from July. St. Johns County remained the least reasonably priced space to reside within the area — with the index at 49. Putnam County noticed a lower when it was registered at 113, however in comparison with different North East Florida counties, it continues to be essentially the most reasonably priced place to reside. Nassau County has a 67.5 index — a 42.3% improve in comparison with July.

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“There are reasonably priced houses in our market,” Rosener mentioned. “However I believe, general, the massive image is we’ve to do one thing inside our communities to make extra reasonably priced housing obtainable.”

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Stock continues to be traditionally low in our space, and we’re nonetheless a methods away from houses being reasonably priced for folks making the median household earnings. However Rosener says the home affordability index inched up 2.9% to a 70 for a single-family residence, so he says it’s shifting in the best route.

There isn’t a direct repair to the issue. Rosener recommends reaching out to the Jacksonville Housing Authority if you should discover a residence instantly, in addition to purchasing round with totally different insurance coverage firms.

Copyright 2022 by WJXT News4JAX – All rights reserved.



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The Supreme Court keeps on hold efforts in Texas and Florida to regulate social media platforms

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The Supreme Court keeps on hold efforts in Texas and Florida to regulate social media platforms


The Supreme Court on Monday kept a hold on efforts in Texas and Florida to limit how Facebook, TikTok, X, YouTube and other social media platforms regulate content posted by their users.

The justices returned the cases to lower courts in challenges from trade associations for the companies.

While the details vary, both laws aimed to address conservative complaints that the social media companies were liberal-leaning and censored users based on their viewpoints, especially on the political right. The cases are among several this term in which the justices are wrestling with standards for free speech in the digital age.

The Florida and Texas laws were signed by Republican governors in the months following decisions by Facebook and Twitter, now X, to cut then-President Donald Trump off over his posts related to the Jan. 6, 2021, attack on the U.S. Capitol by his supporters.

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Trade associations representing the companies sued in federal court, claiming that the laws violated the platforms’ speech rights. One federal appeals court struck down Florida’s statute, while another upheld the Texas law. But both were on hold pending the outcome at the Supreme Court.

In a statement when he signed the Florida measure into law, Gov. Ron DeSantis said it would be “protection against the Silicon Valley elites.”

When Gov. Greg Abbott signed the Texas law, he said it was needed to protect free speech in what he termed the new public square. Social media platforms “are a place for healthy public debate where information should be able to flow freely — but there is a dangerous movement by social media companies to silence conservative viewpoints and ideas,” Abbott said. “That is wrong, and we will not allow it in Texas.”

But much has changed since then. Elon Musk purchased Twitter and, besides changing its name, eliminated teams focused on content moderation, welcomed back many users previously banned for hate speech and used the site to spread conspiracy theories.



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Florida housing market ‘at risk’ in 13 different cities

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Florida housing market ‘at risk’ in 13 different cities


Thirteen out of the 15 housing markets at the highest risk of a home price correction in the coming months, according to a recent Parcl Labs study, are in Florida, where new inventory has been flooding in.

The Parcl Labs’ team, which delivers real-time housing market data, analytics and research, analyzed around 1,000 U.S. housing markets to identify early signs of market stress that could lead to price drops. It found that there’s “trouble” ahead for the Sunshine State, which it described as “the epicenter” of a mismatch between supply and demand.

The top five list of markets with the biggest supply and demand divergence—one of the factors considered in Parcl Labs’ analysis, are in Florida—namely, Pensacola (+52 percent supply increase, -28 percent demand decrease); North Port, FL (+50 percent, -18 percent); Naples (+44 percent, -14 percent); Port St. Lucie (+40 percent, -22 percent); and Palm Bay (+39 percent, -18 percent).

Four of the top five markets expected to see the biggest price drops in the months ahead—though any decline isn’t guaranteed—are also in the state. These include some of the same metropolitan areas which are seeing demand drop, such as North Port (52 percent of listings with price cuts); Tampa (49 percent); Naples (46 percent); and Palm Bay (44 percent). Myrtle Beach, South Carolina, was also in the top five with an expected 46 percent with price cuts.

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Homes are shown in a residential neighborhood in Miami on May 10, 2022. Florida is “the epicenter” of a mismatch between supply and demand, according to a recent study.

Joe Raedle/Getty Images

Several markets in Florida have already seen dramatic price cuts since the beginning of the pandemic in 2020, which saw the U.S. housing market boom as low mortgage rates, high demand and a lack of supply led aspiring home buyers to cutthroat bidding wars.

In Florida, the widespread possibility of remote work led to an influx of people moving from out of state chasing warm weather, sunny skies and cheaper taxes. The end of the health emergency and businesses’ eagerness to get their workers back in the office meant a sudden slowdown in arrivals, as well as the departure of some of those who had already migrated to the Sunshine State.

In Lakeland, according to Parcl Labs’ data, prices are now -4.63 percent from their peak in 2020. They increased by 51.36 percent in 2020. In Sebastian, they’re down -4.14 percent from their peak of +61.43 ; in Gainesville, by 2.28% from +50.21 percent. Deltona, Homosassa Springs, Tampa, Ocala, Port St. Lucie, Miami and Orlando have also seen prices cool down from their pandemic peaks.

Inventory has been growing at a faster pace in the state than in the rest of the country. Florida, together with Texas, is among the states that has been building the most new homes in the past few years, trying to fill the gap between demand and inventory which marked the pandemic. But now, as mortgage rates remain high and home insurance premiums in the Sunshine State inflate, buyers are a little more reluctant.

Newsweek contacted Parcl Labs for comment by email early on Monday.

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The 15 metropolitan areas which are most likely to see home price drops, according to Parcl Labs, are:

  • Crestview-Fort Walton Beach-Destin, Florida;
  • Daphne-Fairhope-Foley, Alabama;
  • Deltona-Daytona Beach-Ormond Beach, Florida;
  • Gainesville, Florida;
  • Homosassa Springs, Florida;
  • Lakeland-Winter Haven, Florida;
  • Miami-Fort Lauderdale-Pompano Beach, Florida;
  • Myrtle Beach-Conway-North Myrtle Beach, South Carolina;
  • Naples-Marco Island, Florida;
  • Ocala, Florida;
  • Orlando-Kissimmee-Sanford, Florida;
  • Palm Bay-Melbourne-Titusville, Florida;
  • Port St. Lucie, Florida;
  • Sebastian-Vero Beach, Florida;
  • Tampa-St. Petersburg-Clearwater, Florida.

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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.



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Florida State Football Recruiting: Blue chip safety Zae Thomas commits

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Florida State Football Recruiting: Blue chip safety Zae Thomas commits


Florida State has landed another verbal commitment for #Tribe25, and this one is from a true Seminole in every sense of the word.

Gregory “Zae” Thomas is a 6’2”, 190 pound defensive back who plays for American Heritage in Fort Lauderdale, Florida. He is currently ranked as the 292nd best player in the nation by 247Sports Composite (25th best safety, 42nd best player in FL).

Thomas chose the Seminoles over 30 other offers from the likes of the Clemson Tigers, Iowa Hawkeyes, Kentucky Wildcats, Louisville Cardinals, LSU Tigers, Miami Hurricanes, Oklahoma Sooners, Penn State Nittany Lions, Tennessee Volunteers, Texas A&M Aggies, UCF Golden Knights, and Wisconsin Badgers.

Back in the names to know and visitor preview articles that mentioned him, I wrote that I believe Zae Thomas is simply destined to play for Florida State. He checks some amazing boxes. Thomas has Seminole Tribe heritage. He plays for the high school where DBs coach Pat Surtain held his first head coaching position, overlapping with Surtain for a year. He is the rare defensive back who loves to tackle and he has the positional flexibility and size that Surtain and defensive coordinator Adam Fuller love.

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In an otherwise middling DB cycle, Thomas is a bright spot with a very high ceiling- I’d easily have him ranked as a top 150 player nationally. He does an excellent job mirroring receivers in coverage and has no issues jamming at the line. I would expect him to be a regular on special teams and as he learns the playbook, I think he’ll enter the mix in either the corner or safety rotation sooner than later.

Check out Tomahawk Nation’s most recent Official Recruiting and Transfer Portal Thread to interact with the Three Stars and for more information about FSU recruiting.



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