Northeast Florida home prices steady as inventories rise 11.3%

The median price of single-family homes in Northeast Florida held steady at $394,000 in July, slightly up from June but down 1.5% year-over-year. Inventory rose 11.3%, reaching the highest level in five years, with a 4.8-month supply. Closed sales dropped 9.4%, and pending sales fell 28.9%. Home affordability remained steady at 66. Building permits increased 7.9% from June but are down 19.1% year-over-year.