Part 2/9:
In a housing market characterized by rising prices and shifting dynamics, the implications of abolishing property taxes need careful analysis. As of January 2025, the median price for single-family homes in Florida stood at approximately $410,000, marking a slight increase of 1.2% from the previous year. Yet, homes are staying on the market longer, taking around 50 days to enter pending status. While some well-priced homes may attract multiple offers and sell quickly, the overall trend indicates that more inventory is leading to longer selling times. Currently, there is over five months' worth of housing supply, suggesting that prices may begin to decline as inventory rises.