2009 Levels of Housing Inventory in Areas of SW Florida!

Do buyers worry about getting Insurance coverage for storm and flood damage? Once i wouldn't have been too conserned, but after the hast two hurricanes it would be front and cantre in my mind. I'm hearing they take your money but provide little cover.

Yes, 7.5% property tax decrease in 2024, with the huge value drop this year and assessments done on 1/1/25, I expect an even bigger drop in 2025.

Line it up players

Thanks!

Always a great job Ben and to the point.

And F Tampa😂

The rent is too damn high!

Where's Manatee Co?
Is that included in Sarasota Co?

The party hasn't even started.

Not sure which line I liked better, Rocketship increases, or not here to hurt anyone.

Dump it!

It's still 2024. Things are just beginning to get rolling. Wait till summer of 2025 thru 2026. Throw in a stock market crash & You'll see a drop in RE to the tune of 50-75%
And that's my conservative estimate. I actually anticipate that 50 to 75% to eventually accelerate up to 90% with Credit Event happening with the banks worldwide. It's a race to the bottom. Fear will prevent those buyers to wait longer before they buy because those few buyers will be uber careful with their $ before making decisions. There will be so many deals at that point that it'll be in their best interest to wait. Fear & greed will be the driving impetus to wait and make strategic decisions. Remember, RE sales is unfortunately driven large and part by emotion. And those 2 emotions are powerful. Psychology will always play a part only this time it won't be in favor of the sellers.

Trump will fix it 👌🏿

Please don't use acronyms like GFC (or GSC) levels and not tell us what that stands for. Some of us may not know what that means. I, for one, have no idea what that stands for.

But, don’t worry. At least Gov Go-Go Boots and his party are protecting Floridians from their prurient desires to access PornHub😂

Thanks Ben.

Ben- thanks again for the “nerdy” video! My inner geek just loves these. On a positive note, I bet if you played this video for the baby it would put him (her?) right to sleep!

Florida in recession

Not surprised. I told you months ago, this would happen...

Great video. Hurricanes, sure, they're having an effect, but this is all still the covid bullwhip effect playing out. The builders will not stop because they can't (and if they do stop they'll singlehandedly create a layoff wave/recession). So I think this poopshow is just beginning and we have a good five more years of covid hangover left to go. The distortions (and the subsequent games) really were that bad.

Smart Investing Made Simple: Bitcoin as a Key to Retirement Planning🇺🇲🇺🇲

Is the listing number compared to 2008 the same % rate. Seems like a lot more houses have been built since 2008?

The collapse of the home insurance, mortgage, construction and other related markets is speeding up in Florida. Prices will drop precipitously as houses can no longer be insured and when all sales are cash only!

its already way higher than 2008 inventory... thers way more new construction and homes for sale not listed on the mls than 2008 after the NAR lawsuit. I drive past for sale signs every day for homes that arent on the MLS. both new and existing.

Awesome update, Ben. It's going to be crazy once the snowbirds come back, because they're going to be selling in droves. These prices are going to soon have to reflect these inventory numbers. Still seeing delusional sellers with their listings rotting on the market!

Great update! Mind blowing comparison to gfc 👍 Very honest and helpful for Home sellers and buyers 💯

Imagine making the biggest purchase of your life when you know with 100% certainty the price is going down every day for the next 2 years

Great video, can't wait to see the video on condos. Should be an interesting market in the spring for condos and mobile homes. Happy holidays with new baby

And they just keep building here in charlotte county.....

No all the realtors and investors said it wasn’t crashing. It’s just a mirage.

Congrats on your Newborn 🎉🎉🎉🎉🎉

Spot on video Ben. I live in SWFL and it’s crazy the amount of listings along with cracked out sellers.

Ever since DeSantis thought he could be President, Florida has taken a turn for the worse.

Ben-savin us cash. The wife and i are in our late 40s. Looks for 2nd home purchase to be pre-snowbirds. Summer if 24 was our original time frame. Now to the hurricanes and drop in market. Your video guidance and knowledge of SWF have tempered our ambition for the moment. Hopefully in 2026-27 rate will be back in the 5% range. As looking for the housing get down toward 2018-19 years

Southwest Florida had a Malaria outbreak last year......BE CAREFUL!!! CAN BE DEADLY

Thanks for the update and I would love to move there to Southwest Florida but I just can't pay double the house price, with the insurance cost and the taxes are going up and the values are going down. I'll just visit in rent for now but I'm going to still look

Are the stats only for single family homes or do the stats also include condos? Enjoy your videos, thanks.

Great content, Ben— Appreciate your passion for the business !

Very informative videos. You’re my fav every morning Sir. Keep this great information coming planning to move to North Port within the next year

Ben - you're getting stuck on the absolute number and not considering the relative amount given the growth that has occurred. Consider the Punta Gorda MSA (similar to Port Charlotte) from April 2008 to November 2024 had 30,399 building permits issued and presumably those were added to the housing stock. Even if today's # of active listings for Punta Gorda's MSA is around 3,600 and for the sake of argument it was the same in March 2009 - the absolute # of listings going up now will not drag prices down to the same levels as we're not starting from the same place. We're starting from 2009 PLUS nearly 31k more houses. Since the pandemic - call it - March 2020 there have been 21,023 building permits issued in the Punta Gorda MSA -a significant blip up of 25% or around 900 listings over the stable 2017-2019 average listings # is probably absorbed by those additional single family units coming online. The "WOW - these numbers look like the last time things were really bad" narrative doesn't hold up to a methodical analysis of the facts. I am not suggesting that hurricanes and movers remorse from the pandemic are not driving the increase in listings - they likely are - but panic level pricing effects of the same magnitude of the GFC are not about to happen because we have more listings. The real issue is affordability and demand drying up. The relative share of those with median incomes in the MSA who can afford the median mortgage and home price is down severely, curbing demand and pulling prices downward as sellers try to grab the smaller # of in migration with money to buy at the prevailing prices. Your comments about Collier line up with this. Collier's market is less driven by mortgage holders and so rates don't matter as much to them and they have income and assets to be less price sensitive. Punta Gorda, North Port, and Cape Coral are mortgage holder markets and price sensitive - which hurts sales volume and drags down median prices.

One thing everyone is missing the Florida population has increased 24% vs 2008. That means to match 2008 listing would need to hit 5250 to match the 4200 of 2008. In addition to that remember the 2nd big disaster in 08 was a huge jump in unemployment followed by a massive number of foreclosures. If we don’t get to 5250 and have a huge jump in unemployment that leads to huge foreclosures it is NOT 2008.

Babcock Ranch?
🤔

Wait til mortgage rates hit 8%, 9%.

great video ben

Wow, good thing I don’t want to sell.

Awesome vid and you lead with the numbers! New sub here

Anyone who bought 2014 and after is gonna feel tge pain. Worse than 2008.

Thank you for sharing this data!!

We have lots of inventory but we also have millions of people that moved here

I was in Saradota/Venice for 3 weeks looking for Retirement Home and here is what I found

1)RE Developers are INSANE..they absolutely refuse any price drop and refuse discounts and they also demand
1a)NO Utilities will be supplied
1b)NO Private Pool will be supplied
1v)No Kitchen Lighting will be supplied
This is NEAL Development of Florida moreover
1d) Their Grab Palm development is in Floodzone so what is Flood Insurance for Gran Palm...NO ANSWER

Not only gran palm but other developments are asking for 1000+/month for HOA fees
I currently have 0 HOA fees

2(Re-sell market is far more competitive..U met with one RE lady who said even though there is no price drop after 90 days that they were thorwing in FULLY FURNISHED


In venice alone which has a population of 29,,000 there are 6,000 listings

Average days on market is 120 days in Jan 2025

On top of all that CDD is an additional expense the HomeOwner must bear to buy into any RE Development