Flood insurance costs in Florida are skyrocketing in 2024, causing many homeowners to be forced to sell their houses. The result is lots of homes for sale and declining prices.
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Especially in St. Petersburgh, FL. Many neighborhoods here have aggressively flooded in the last 1-2 years and now many of the owners are selling their houses. The result is huge surge in inventory. And home prices dropping.
Of course - home values in Florida are still very high. And the result is very low buyer demand. Especially in Shore Acres, the neighborhood I toured in this video. About 50% of the homes in Shore Acres flooded in the last hurricane in August 2023.
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Негізгі бет Entire Florida neighborhood forced to sell.
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