Palmetto Bay, Florida, USA

96 Property Listings

As inflation eases and the economy slows, the Federal Reserve is expected to cut rates by 2025, setting the stage for a housing sales recovery and price growth in Southeast Florida. Mortgage rates are projected to decline to 6.6% by late 2024 and 5.7% by 2025, which will boost affordability. While home sales may decrease in 2024, they are expected to rebound by 2025, driven by demand for single-family homes, with over 1,000 renters potentially becoming homeowners. Single-family home prices are forecasted to rise by 7% annually, with nearly 10% growth in 2025. Meanwhile, Southeast Florida's economy will see employment growth of 2.4% in 2025, adding 80,000 jobs, while business tax cuts and global investment will further fuel regional growth. Overall, the region’s housing market will benefit from lower rates, improved affordability, and a robust local economy.