This is the second consecutive month that sales have slumped.
Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy.
In Brevard County, there are more than 65 percent fewer single-family homes for sale compared to this time last year while buyer demand remains strong.
“Buyer confidence is rising especially here on the Space Coast,” said Jennifer McCoy of McCoy Freeman Real Estate, which serves Florida’s Space Coast.
“If we had more inventory to sell the number of sales would have been much much higher. Florida’s Space Coast continues to be a hot spot for out-of-state real estate buyers as I continue to place many of those buyers into their new Florida home.”