South Florida vs. the USA on Home Prices

Despite all the indicators and headwinds, we still saw appreciation in sales prices through the first quarter of 2023.

 I suspect this will flatten and then reverse when the Q2 and Q3 numbers are presented. The velocity of sales tells the story.

The COVID bump is obvious. What most people seem to want to ignore is that the bump is going down at even a more precipitous rate than it went up. This graph is of the entire USA. A South Florida graph would reflect a slight downward trend in the past two month. Eventually, I believe, the trend will land on our South Florida shoulders and we, too, will see the declining side of the bump.