Extremely low mortgage rates drove our red-hot housing market, particularly during the epidemic, and intensified bidding wars. Lakeland ranks 12th nationally, and second in the state, with homes overvalued by more than 53.2%. North Port-Sarasota-Bradenton is No. 17 nationally, fourth in the state at 48.9%.
Data is deemed reliable but is not guaranteed accurate by the MLS. Vacation rental properties are more reliable and profitable than typical rental properties due to high demand. Tourist demand can remain consistent throughout economic downturns, making vacation rental properties more market-resilient. Florida’s great tourist draw can offer real estate investors looking for vacation rental properties a reliable and successful revenue stream and property value appreciation. If this reduces buyer demand sufficiently in some Florida areas, price appreciation may decrease.
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This robust growth mirrored the average annual rate, once again highlighting the state’s resilience and attractiveness to …