Commentary
Florida’s housing market has moved decisively from scorching-hot to increasingly fragile. After experiencing some of the nation’s steepest home price appreciation during the Pandemic Housing Boom, Florida is now leading on the way down—particularly in its condo sector. In 92 percent of tracked Florida metro areas, condo prices are falling, and two-thirds of its single-family markets are posting year-over-year declines. While the national housing market remains resilient—with single-family prices up 2.8 percent and condo prices eking out a 0.4 percent gain—Florida is unmistakably in correction mode.
