Is the real estate market going down in SW Florida?

Home sales and prices in Florida are still rising, and inventory is super tight. The number of buyers paying cash for single-family homes has increased by almost half. However with flood insurance and the mortgage rates on the rise (Up from low 3% to over 5% in the last 6 months) the market may start to see more balance in the near future. So while home sales and prices in Florida are still rising and I don’t believe prices will be coming down anytime soon from the record highs. However multiple offers and the super tight inventory may start to loosen up later this year.  Check out my website!