Jacksonville's housing market is cooling, impacting sellers' potential profits. Post-pandemic buyers face the highest risk, with 26% potentially losing money. In contrast, just 1% of pre-pandemic buyers are at risk. While sellers may hold off on selling at a loss, the majority still make a profit, with 94% of homes selling for more than their purchase price nationwide. A potential price drop could increase the number of at-risk listings, with predictions showing 10% at risk with a 1% drop. Lower mortgage rates make pre-pandemic buyers less likely to sell.
About 26% of sellers who bought post-pandemic are at risk of losing money on the sale in Jacksonville, significantly higher than the national share of 16%.
If prices drop by 1%, 10% of Jacksonville listings could be at risk. A 3% drop increases that to 12%, and a 5% drop raises it to 15%.
The majority of home sellers still profit from sales, with 94% of homes nationwide selling for more than their original purchase price.
Those who purchased homes pre-pandemic are less likely to sell due to lower mortgage rates, despite facing the lowest risks of loss.
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