Of the six markets where housing has gained the most value since the start of the pandemic, four are in Florida: Tampa (+88.9%), Miami (+86.6%), Jacksonville (+82.4%) and Orlando (+72.3%), according to Zillow.
After a boost in July, the sales pace of new homes slowed down in August, according to data published on Wednesday by the U.S. Census Bureau. The inventory of unsold new homes is at its highest since December.
The Federal Open Markets Committee paused its interest-rate hikes on Wednesday for the second time this year. However, the door remains open for another increase as early as November.
Homebuyers find themselves in a competitive market with a shortage of available homes and many are paying above list price to land their dream homes, a survey found.