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This week I update Citrus County real estate: single family homes in the Black Diamond/Citrus Hills Terra Vista/Pine Ridge areas. As the article from the Florida Association of Realtors points out, home prices are up, fluctuating mortgage rates are making a difference. I include what has sold in the last six months and what is for sale now.
Florida Association of Realtors:
Home price growth moved up to nearly 4% year over year in August, though gains are projected to fall to less than 1% by next spring, according to the CoreLogic Home Price Index (HPI) and HPI Forecast for August 2024.
Mortgage rates dropped to the lowest level in nearly two years the last week of September, according to Freddie Mac, but weakening consumer confidence over the job market and uncertainty around the November election could be keeping price growth expectations muted.
“While mortgage rates have dropped in recent weeks, August home sales were by still-high rates in July and August, which lowered affordability,” said Dr. Selma Hepp, Chief Economist for CoreLogic.
“The combined impact of high prices and high mortgage rates kept a lid on price growth, with annual gains falling to the lowest level in a year and the monthly gain falling well below what is typically observed in August. Price gains in August were driven by areas in the Northeast but brought down by softening markets in Texas and Florida.“
Top takeaways:
- U.S. single-family home prices (including distressed sales) increased by 3.9% year over year in August 2024 compared with August 2023. On a month-over-month basis, home prices decreased by 1% compared with July 2024.
- In August, the annual appreciation of detached properties (4.2%) was 4 percentage points higher than that of attached properties (-0.2%).
- CoreLogic’s forecast shows annual U.S. home price gains relaxing to 2.3% in August 2025.
- Miami posted the highest year-over-year home price increase of the country’s 10 highlighted metro areas in August, at 8.9%. Chicago saw the next-highest gain at 6.8%.
- Among states, South Dakota ranked first for annual appreciation in August (up by 10%), followed by New Jersey (up by 9.5%). Hawaii was the only state to record a year-over-year home price loss (-0.1).
WHAT IS FOR SALE AND WHAT HAS SOLD?
-IN ORDER to view houses in the link, you may have to scroll through some pages and or click on a price and then it takes you to the home (homes).
Black Diamond for sale (14):
click: https://portal.onehome.com/en-US/share/1006433P21049
Black Diamond Sold:
click: https://portal.onehome.com/en-US/share/1006432h84951
Pine Ridge for sale:
click: https://portal.onehome.com/en-US/share/1006434q69112
Pine Ridge Sold (116):
Citrus Hills Terra Vista for sale (57):
Citrus Hills Terra Vista Sold:
