Florida Housing Market Shows Resilience with Nine-Month Sales Streak
Event summary
- Florida's closed sales of existing single-family homes rose 0.6% year-over-year in May 2026, marking the ninth consecutive month of growth.
- Condo-townhouse sales surged 6.6% year-over-year, with new pending sales up 9%, suggesting continued momentum.
- Median single-family home prices increased 2.4% to $425,000, while condo-townhouse prices fell 1% to $306,990.
- Inventory for single-family homes dropped to a 4.7-months' supply, while condo-townhouse inventory stood at 8.6 months.
The big picture
Florida's housing market continues to demonstrate resilience with sustained sales growth, reflecting broader trends of buyer and seller engagement. The market's direction remains heavily influenced by mortgage rates, which are currently elevated due to inflationary pressures. The state's real estate sector is navigating these conditions with a focus on balanced inventory levels and informed decision-making.
What we're watching
- Mortgage Rate Impact
- How rising mortgage rates, driven by inflation and energy prices, will affect future sales trends.
- Inventory Dynamics
- Whether the current inventory levels will sustain the sales momentum in the coming months.
- Market Balance
- The pace at which the market achieves a more balanced state between buyers and sellers.