Florida's housing market is characterized by a shortage of inventory, leading to strong rental demand. Builders face challenges like high land costs and supply chain issues, while homeowners are reluctant to sell due to low mortgage rates. This has resulted in a competitive rental market, attracting various investors amidst changing dynamics. Despite rising interest in single-family rentals and build-to-rent communities, affordability pressures exist as home price appreciation is reversing, indicating a shift toward flat property values and potential challenges for rental growth.
Many homeowners are hesitant to sell their properties, holding on to historically low mortgage rates secured during the pandemic, reducing inventory and keeping renters longer.
The imbalance between supply and demand has prompted increased investor interest in Florida's rental market, leading to higher acquisition costs and thinner margins.
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