Interest rates likely will continue to play a role in determining the direction of Florida’s housing markets going forward, O’Conner said. He added, “Homebuyers considering sitting on the fence until prices come down might want to take note that we’re also likely to see significantly higher mortgage rates by that point. While there has been a slight softening in the pace of home price growth since mid-2018, there are currently no signs that Florida home values will experience any wholesale declines over the next year.”