Florida real estate inventory surges, sellers slash prices

Florida real estate inventory surges, sellers slash prices

Real estate inventory in parts of Florida is surging to uncomfortable levels — and sellers are beginning to slash prices, according to a report.

On the west coast of Florida, the number of houses up for sale and the rate at which their current owners are cutting asking prices is soaring, according to a report from real estate company Redfin released Thursday.

Redfin found that in the western parts of the state, whose coastline is on the Gulf of Mexico, inventory in Cape Coral and North Port has jumped the most, about 50% year-over-year as of March — more than any other US metro.

Trendy North Port-Sarasota saw homes for sale rise 48%, while the figure in upscale West Palm Beach, known to be home to wealthy snowbirds during the Northeast’s cold winters, rose a more modest 20%.

On Florida’s western coast, the number of houses up for sale and

Buyers and sellers face a ‘standoff’ in the spring real estate market: economist

Buyers and sellers face a ‘standoff’ in the spring real estate market: economist

Canada’s real estate market is seeing some signs of increased activity, but one economist says a recovery will be gradual until interest rates are firmly moving down. 

Robert Hogue, an assistant chief economist at RBC, said in an interview with BNN Bloomberg on Wednesday that “some markets are picking up” across Canada, but on an aggregate basis the recovery in the real estate market “has probably not started.” He added that a recovery could be “gradual at first” and doesn’t expect a drastic increase in activity in the coming months. 

Hogue said he is expecting the Bank of Canada to start lowering interest rates in June followed by 100 basis points of cuts over the second half of the year and another 100 basis points of cuts into 2025. 

“So the implication for the housing market is that now probably as we get closer to that first cut, we might

Home staging companies forced to adapt as sellers pull back

Home staging companies forced to adapt as sellers pull back

TORONTO –


One walk through a home tells Rachael Stafford what adjustments are needed to pique the interest of potential buyers.


For Stafford, the founder and creative director of organizing and staging company Order in the House, changes can range from decluttering rooms to services like painting and repairs, or even bringing in furniture rentals.


It’s a service valued by homeowners, she said, especially in a hot market where sellers look to gain any advantage that can help drive up the price of their property.


But as home sales throughout much of Canada have turned sluggish, home staging services have taken a hit as sellers rethink the cost of a thorough revamp, Stafford said.


“We’re still supplementing with some (furniture) rentals where rooms really need it,” she said. “But I find that sellers are more so trying to scale back a little bit on the

CONDO REPORT: Interest rates created challenge for sellers

CONDO REPORT: Interest rates created challenge for sellers

Demand still relatively low and inventory high heading into new year, creating some good opportunities for buyers, says columnist

The 2023 condominium market was challenging for sellers in Barrie.

The market slowed down quite a bit after interest rates increased by two per cent over the last half of 2022 and into January 2023.

With such a large increase in the cost of borrowing, many buyers could no longer afford to purchase real estate and chose to put their property search on hold until the market reacted and prices came down.

The first half of 2023 was more active than the second half, where the Barrie condo market experienced waves of interest from buyers. Some weeks were extremely slow with very little action on listings while other weeks had an increase in appointments and offers on properties.

Most of the active buyers were those who were already locked into an

Buyer’s market or seller’s? Find out how your city’s real estate ranks

Buyer’s market or seller’s? Find out how your city’s real estate ranks

Housing market competition is cooling across the country. Find out which are the best cities for buyers

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Article content

Cooling home sales in recent months have changed the dynamic in markets across the country.

Gone are the bidding wars previously seen in many communities, as higher interest rates cause buyers to take a step back and housing inventories build.

Bank of Canada rate hikes may have ended, but their effects have not, says Desjardins principal economist Marc Desormeaux in his housing outlook.

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