October 2022 Market Update Jacksonville Florida

Written By Momentum Realty

This week we had a MASSIVE stock market rally due to lower than expected inflation numbers. This caused interest rates to come down --> a really good data-point for the housing market after a string of negative data that pointed to much more pain ahead. Be aware, not scared.

For October 2022, according to the Northeast Florida Association of Realtors:

  • Closed sales are down 27.1% YoY

  • Pending sales are down 37.6% YoY

  • Affordability Index is near a record low of 67 due to rising rates and record prices

  • Active inventory has more than doubled to 7,237 active listings

The shift is a massive opportunity for those who are prepared, run lean businesses, and have great relationships. Let's go! jon@movewithmomentum.com



Momentum Realty
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