Central Florida and The Villages: Homes for sale, Trends and Forecast for 2024

What buyers need to know about Central Florida and The Villages housing market

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The Villages, Florida, a 55 plus retirement community's real estate market has been declining for 18 months, causing lower house prices and inventories to rise. Foreclosure home buying opportunities can now be found in the surrounding suburban areas to major cities which have limited inventory.

Mark Gilbo from Gilbo Realty shares his view on the Central Florida and "The Villages" real estate market. "The prices of houses in The Villages have been decreasing for the past year and a half. If someone purchased a house after January 2022 and tried to sell it now, they would lose money. The inventory of houses has increased by about 45%, and the prices will continue to drop. While the rapid price surges in the last three years have kept foreclosures down, the market changes may lead to an increase in foreclosures. This may result in some great deals for investors and realtors in the foreclosure market. If you're looking for foreclosure deals, it's best to look outside major cities. These areas have more affordable properties and lower taxes. In the coming years, more people may move towards these areas for the same reasons. Mark believes that prices will continue to drop slowly until after the election. There might be a possible rise afterward, but only a significant interest rate drop to 4% or 3.5% would stabilize prices. Inventories will continue increasing while prices decrease. Foreclosure.com is an excellent website to find off-market affordable housing. They list a large number of city-owned properties across the country, including sheriff sales, foreclosures, REOs, tax liens, and short sales. It's a great resource for anyone looking for a diverse range of options in all 50 states, especially if their MLS is limited to specific areas."

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