Ocala ranked #1 city in Florida to have a housing crisis, real estate experts react

Reports show home sales numbers in Marion County are up more than 16%.
Published: Aug. 22, 2023 at 1:31 PM EDT|Updated: Aug. 22, 2023 at 2:11 PM EDT
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OCALA, Fla. (WCJB) - A North Central Florida real estate expert is contradicting rumors about a possible housing crisis in Marion County.

According to Florida Realtors’ July home sales report, $285,000 is the average cost to purchase a home in Marion County. But with the rising costs of mortgage and interest rates, real estate experts are predicting fewer people will be able to afford any home.

“There’s such a need for housing and there’s just not enough affordable housing, especially for first-time buyers, lower-income families,” said the owner of Ocala Realty World, Elisha Lopez.

According to an article on GOBankingRates, the #1 ranked city in Florida to experience a housing crisis is Ocala. But that’s something Lopez said she can’t wrap her mind around.

“This story about a crash in Ocala and Ocala being number one, that’s just hype that we are seeing right now because it’s the first that we’re hearing as real estate brokers and living here for 18 years.”

A mortgage broker with Motto Mortgage Michael Dorosko says although he’s in a better position than most, he’s seeing the changes in his household.

“I’ve seen it myself, my insurance premiums going up a little. You know interest rates have been ticking up consistently maybe for the last year or so year and a half. It’s making it more difficult with the increased interest rates.”

Lopez added, “Even if they’re not behind yet and about to, also contact your loan service and find out what programs they have in place and what they have to offer them.”

Reports show home sales numbers in Marion County are up more than 16 percent and in Gainesville, they are down 7.5 percent compared to last July.

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