Attached is the Jan Market Review for single family homes in SWFL (Lee and Collier Counties). There are 8 categories that are reported here, please see the attachment. YOY - 4 are extremely negative and 4 are slightly positive. MOM - 2 are positive and 6 are negative. The condo market is much worse, negative in every category YOY and negative in 5 MOM. 17 MOS.
The biggest issue that we are having is with the inventory levels. There has been an extreme spike over the past 3 months. I sent a market update to our owners once Trump won because the inventory spiked then and has not stopped. We have an 11-month supply of inventory which signals EXTREME BUYERS MARKET. Although, we have been in a buyers' market for most of 2024 it was not this extreme. 
To make it a little easier to understand, 11 MOS is like saying that there are 100 homes are on the market but there are only 9 people that are going to buy a house. The listing that will sell will be a combination of the nicest houses, in the nicest areas, for the best price.
With the high levels of inventory, we are going to see 
  • A big drop in pricing
  • An increase in DOM
  • An increase in negotiations that will benefit the buyer
  • An increase in price reductions
  • An increase in annual rental inventory
  • A decrease in annual rental pricing
Unlike the stock market, real estate is very slow to react, but we are already feeling the effects in Feb. but we already see the effects in the month of Feb.