Florida Real Estate 2023 Outlook

By Buying, Selling January 23, 2023
Florida Real Estate 2023 Outlook Avalon Group Cover Pic that shows a porch on the beach with a water view.

Florida Real Estate 2023 Outlook

The Florida Real Estate 2023 Outlook in Florida is expected to continue its growth.  The state’s strong economy, low unemployment rate, and historical low mortgage rates are all expected to drive demand for housing, and the overall outlook for the Florida real estate market remains positive.

Florida Real Estate 2023 Outlook. Avalon Group New Build Home 5000 Dartmouth Ave. N. St. Petersburg, FL. This is the rendering of the new home to be built.

Avalon Group New Build Home 5000 Dartmouth Ave. N. St. Petersburg, FL

One of the main drivers of the Florida real estate market is the state’s growing population. Florida’s population has grown exponentionally and will continue in 2023. As the population grows, so too does the demand for housing, which is a positive sign for the state’s real estate market.

Florida Real Estate 2023 Outlook:  Strong Economy

Florida real estate market in 2023 is going to continue to grow because of the state’s strong economy. Because Florida has a diverse economy

Florida Real Estate 2023 Outlook Aaron Hunt, Team Lead, meets clients at a new build site in St. Petersburg, FL. The picture has bare dirt, a cement block home home shell in the picture.

Aaron Hunt, Team Lead, meets clients at a new build site in St. Petersburg, FL

that includes tourism, agriculture, and manufacturing, it has helped to create jobs and drive population growth. As the economy continues to grow, so too will the demand for housing, which is a positive sign for the state’s real estate market.

Florida Real Estate 2023 Outlook:  Challenges

However, there are also some challenges that the Florida real estate market is facing in 2023. The state’s population growth has led to increased demand for housing, which in turn has led to rising home prices. Additionally, the shutting down of other states with Covid related policies has led to increased competition for homes.  Many people are moving from California, New York, and Illinois to purchase a home in Florida as a primary residence or vacation home. These challenges may lead to higher prices and less inventory.

Florida Real Estate 2023 Outlook:  New Home Construction

“Florida’s new home construction market is affected by the strong demand. Coupled with lingering supply chain issues, wait times for new homes can be up to 12+ months in some cases, versus the more normal 7 – 9 months build time from initial contract to close. Also, many who are relocating to Florida are eager to escape the cold weather. Additionally, many seek to  start their retirement years as Floridians. Moreover, there is also a trend of buyers that do not want to wait this extended length of time for a home to be built.  So many are opting for recently-built homes in the resale market.  These buyers will often pay a premium above ask price to secure a deal.” says Aaron Hunt of Avalon Group Real Estate St. Petersburg FL.

Florida Real Estate 2023 Outlook:  Conclusion

In conclusion, Florida Real Estate 2023 Outlook shows continuing growth. The state’s strong economy, low unemployment rate, and growing population are all expected to drive demand for housing. While there are some challenges facing the market, such as rising home prices and increased competition, the overall outlook for the Florida real estate market remains positive.

Author:  Rob Johnson, Realtor 

Check out this article next

Japandi Interior Design: Hottest Trend of 2023

Japandi Interior Design: Hottest Trend of 2023

Japandi Interior Design:by Rob JohnsonHottest Design Trend of 2023Warm, Inviting and Cozy Japandi DesignJapandi Interior Design is quickly becoming one of the hottest trends in…

Read Article
About the Author
Aaron Hunt, Broker

Raised in a family of creative entrepreneurs, Aaron Hunt, Realtor St Petersburg FL, guides his clients with the same irrepressible spirit he was surrounded by as a kid. A Florida transplant, Aaron relates well to the out-of-state buyers, retirees, and vacation home-dwellers who make up the bulk of his clientele. He makes no secret of his love for St. Petersburg and its neighboring cities and towns, and it fuels his passion for helping buyers find their dream home.

Originally from the San Francisco Bay Area, Aaron grew up on the West Coast. His family owns hotels throughout California, Idaho, and Las Vegas, which has shaped Aaron’s eye for detail and his mind for business. In his subsequent career in the spa industry, he established a high bar for client service designed to cater to every discerning taste. From pampering spa customers to tending to real estate clients, Aaron knows how to take care of people.

Realtor St Petersburg FL:  Exceeding Expectations

By limiting the number of clients he represents at any given time, he ensures his undivided attention, absorbing every detail so he can deliver outstanding results and exceed expectations. Aaron co-founded Avalon Group, Realtor St Petersburg FL, in 2014 and grew it into the top-rated real estate team in St. Petersburg and Tampa Bay out of over 10,000 agents. Some of Aaron's greatest strengths are organizing and leading complex projects, making deals happen, and driving profit.

Aaron negotiates deftly for his buyers’ ideal homes.  Furthermore,  he attracts multiple enticing offers for his sellers’ properties.   Aaron prepares meticulously for every transaction, thoroughly covering every detail so clients encounter no surprise. He also relies on his dynamic support team and vast professional network to ease every facet of a transaction.  Additionally he makes sure to fulfill specific client needs. Aaron, a broker associate and Pricing Strategy Advisor, satisfies his competitive streak when everyone wins.

Realtor St Petersburg FL:  Living the Tampa Bay Lifestyle

Aaron has been a proud Florida resident since 2013. There’s always something interesting to do in St. Petersburg, and Aaron relishes it, exploring the city, traveling, hiking, biking, and visiting with friends. He also enjoys trying new restaurants in the region, especially in neighborhoods where he has homes listed. Aaron takes time to give back to his community by supporting St. Pete Pride and other annual festivals throughout the area.