Gone are the days of round-the-block lines for open houses, love letters to sellers, and buyers waiving due diligence with their all-cash offers in South Florida.
The nearly two-year housing boom, fueled by out-of-state migration, low interest rates and few pandemic restrictions, is on hiatus. The “urgency” previously felt by potential buyers has dissipated, brokers say, and when — and if — that will return is unclear.
Nationally, some large brokerages announced major layoffs ahead of a potential recession.
