Here are 3 numbers that are driving conversations amongst policymakers, legislators, and lobbyists in Florida's Capital City.
Florida's housing market is experiencing dynamic changes as the state ranks as the second busiest for new home construction after Texas. Factors like new home construction, rising prices, and an increase in active listings are shaping the market landscape in significant ways. Florida’s surge in new home construction is a two-sided coin. Florida home buyers benefit from the increased supply, alleviating the housing affordability crisis. However, the abundance of supply hurts sellers, who may need to rely on new pricing strategies to remain competitive. Moreover, the steady upward trend in housing costs, marked by the 2% increase in the median sales price of homes from 2022 to 2023, although moderate, has implications for housing affordability. The cost barrier is affecting both local residents and Florida’s appeal to retirees, which may eventually lead to broader demographic changes and impact the local economy.
Considering these trends when moving into future legislative sessions, it is essential for policymakers to create solutions for the housing affordability crisis with the nuances of Florida’s housing market in mind.
Catalyst Strategies is a full-service government and public affairs firm in Florida. From healthcare policy to tech to local government, we assist our clients with creating and growing momentum for their public policy issues.
Comments