Florida’s housing market is flirting with disaster
High prices, high mortgage rates, and high insurance have completely collapsed the market.
By
November 10, 2024
Much of Florida’s housing market is cooling off.
For many, the rise in hurricane activity was the final straw for a market grappling with sky-high prices, mortgage rates, and insurance costs.
The result is a surplus of housing inventory and dwindling buyer interest.
Tampa and Orlando have seen housing inventory increase by 50%, while demand has dropped at least 10%. To make matters worse, half of Tampa’s homes on the market have seen price reductions.
Many institutional investors are now also offloading their Florida properties over concerns that the market could worsen. This could further negatively impact home prices.
Florida’s housing market is flirting with disaster.
