Home buying in Northeast Florida took a nearly 10% decline in August, according to a new report from the Northeast Florida Association of Realtors

It’s a trend that the NFAR President Mario Gonzalez said is expected during back-to-school time.

NFAR said the housing market was adjusting as buyers and sellers dealt with changing conditions in the region.

The median single-family home price in Northeast Florida rose 1.1% to $398,995. Closed sales for single-family homes totaled 1,730 transactions, a 9.9% decrease from July.

Pending sales stood at 1,227, experiencing a 31.8% decrease, and there were 2,431 new listings in August, a 7.9% drop from July.

On the other hand, there were 8,619 properties of active inventory, which was an increase from the previous year as well.

That rise gave h

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