Mid-Year Market Update for 2024: What Florida Keys Buyers and Sellers Need to Know

by Karen Williams-deCastro- Broker Associate®, C2EX, RSPS, GRI, SRS, ABR, SFR, AHWD, CELA, CREN

Last December, when the Federal Reserve projected a series of benchmark rate cuts in the coming year, some analysts speculated that mortgage rates—which had recently peaked near 8%—would fall closer to 6% by mid-2024.1,2,3 Unfortunately, persistent inflation has delayed the central bank’s timeline and kept the average 30-year mortgage rate hovering around 7% so far this year.2

While elevated mortgage rates have continued to dampen the pace of home sales and affordability, there have been some positive developments for frustrated homebuyers. Nationwide, the…

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