When Will Jacksonville Housing Market Turn Around?

The Florida housing market woes are well documented by now.

Sales are down. Foreclosures are up. The bad credit Florida mortgage market is faltering and major builders are posting losses. When will it all end?

No, the news hasn’t been good in the Jacksonville housing market - or in the state of Florida or the U.S. as a whole.

When asked by First Coast News about their opinions of the pros and cons facing the area market and when it would turn around, experts were still optimistic, yet well aware of the difficulties faced.

They say the market should begin improving starting around the middle of next year, although they still expect more problems, such as increased numbers of Florida mortgage delinquencies.

They say the area’s job and population growth and its land availability are good signs for the long-term market health.

But overbuilding of condos and ongoing questions about property tax reform, property insurance and affordability are causing some market jitters.

Perhaps only time will tell if those Florida housing market jitters are resolved sooner rather than much, much later.

SOURCE: First Coast News