A real estate agent explains how the Ukrainian crisis could impact the housing market

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With the crisis unfolding in Europe, some experts say nationwide economic sanctions and inflation will impact real estate in Florida. “The trend of affordability will continue,” Nathaniel Crawford, a broker with Black Luxury Realty, told WPBF 25 News. “Supply chain disruption and higher oil prices will contribute to already increased construction costs.” Nathaniel Crawford is a Fort Lauderdale-based realtor. He said that with the current housing market, available and affordable housing for the middle class could deteriorate for the foreseeable future. “We had about six months of single family home inventory in Dade, Broward and Palm Beach County. And about eight months of condo inventory in Dade, Broward and Palm Beach County. little more than $600,000,” Crawford said. According to floridarealtors.org, an increase in oil and gas costs will impact home heating costs and, additionally, supply chain disruptions. supply Officials cite the National Association of Home Builders, where studies show the cost of building materials has soared 22% due to inflation Experts say this will impact affordability housing.” That adds up to even greater volatility when it comes to oil, which then increases transportation costs, which are then passed on to consumers in the form of higher costs for everything. One of those big issues, of course, is real estate,” Crawford said. WPBF 25 News asked Crawford what he anticipates the housing market trend in South Florida is going to be bad, I prefer to be bad on the beach. They can afford to do it. And there’s a lot of people who can’t afford it. And those are the people who are going to be stuck. I think we’re going to start to see more of a middle-class migration to North and Central Florida, especially with stuff like Brightline,” Crawford said. And if you’re in the market to buy a home right now, here’s a tip helpful.” Be very decisive. This is not the market to negotiate, it is a seller’s market. As a buyer, you want to put your best foot forward on your first offer. If you’re willing to go 5, 10, 15 grand above appraised value, say so. Don’t expect a counteroffer because you won’t get a counteroffer,” Crawford said. To learn more about the state’s real estate market from Florida Realtors, click here.

With the crisis unfolding in Europe, some experts say nationwide economic sanctions and inflation will impact real estate in Florida.

“The trend of affordability will continue,” Nathaniel Crawford, a broker with Black Luxury Realty, told WPBF 25 News. “Supply chain disruption and higher oil prices will contribute to already increased construction costs.”

Nathaniel Crawford is a Fort Lauderdale-based realtor. He said that with the current housing market, available and affordable housing for the middle class could deteriorate for the foreseeable future.

“We had about six months of single family home inventory in Dade, Broward and Palm Beach County. And about eight months of condo inventory in Dade, Broward and Palm Beach County. just over $600,000,” Crawford said.

According to floridarealtors.org, a rise in oil and gas costs will impact home heating costs and further supply chain disruptions. Officials cite the National Association of Home Builders, where studies show the cost of building materials has soared 22% due to inflation. Experts say this will impact housing affordability.

“That adds up to even greater volatility when it comes to oil, which then increases transportation costs, which are then passed on to consumers in the form of higher costs for everything. One of those big problems is of course real estate,” Crawford said.

WPBF 25 News asked Crawford what he expects the housing market to be trending in South Florida.

“The only people who can kind of have the ability to say ‘well, things are bad. But if they’re bad, I’d rather be bad on the beach. They can afford to do it. And there are a lot of people who can’t afford it. And these are the people who are going to be stuck. I think we’re going to start seeing more of a middle-class migration to North and Central Florida, especially with stuff like Brightline,” Crawford said.

And if you’re currently in the market to buy a home, here’s a helpful tip.

“Be very decisive. This is not the market to negotiate, it’s a seller’s market. As a buyer, you want to put your best foot forward on your first bid. If you’re ready to go 5, $10, 15 grand over appraised value, say that. Don’t expect a counteroffer because you won’t get a counteroffer,” Crawford said.

Learn more about the state real estate market from Realtors in Florida, click here.

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