Part 3/8:
Phil Simonetta, a licensed Florida real estate broker, has painted a bleak picture of the current market. Many Florida real estate agents are seemingly at odds with the data and trends being reported. Despite reports of high demand in some sectors, Simonetta points to alarming figures that suggest otherwise. The influx of new listings in the MLS has been dramatic, with numbers reaching as high as 13,000 new listings over a mere seven-day period. This is juxtaposed with a stark decline in homes being sold, which used to hover around 7,000 closings weekly and has dropped to approximately 2,400.