Florida Housing Market Cools as Sales Dip, Prices Hold Steady
Event summary
- Florida's August 2026 housing market saw closed sales of existing single-family homes dip 1.4% year-over-year to 21,497, while condo-townhouse sales fell 1.8% to 7,291.
- Median home prices remained stable, with single-family homes at $415,000 (up 1.2%) and condos at $298,000 (up 2.8%) compared to August 2025.
- Inventory tightened to a 4.3-month supply for single-family homes and 7.7 months for condos.
- Florida Realtors® Chief Economist Dr. Brad O'Connor attributed the slowdown to rising mortgage rates, now higher than a year ago.
The big picture
Florida's housing market is transitioning from rapid growth to a more balanced pace, reflecting broader trends of higher mortgage rates and affordability constraints. The state's ongoing appeal as a migration destination may help stabilize demand, but the market's ability to maintain price stability will depend on inventory levels and buyer sentiment. With 230,000 members, Florida Realtors® plays a key role in shaping market dynamics through data and advocacy.
What we're watching
- Rate Sensitivity
- How sustained higher mortgage rates will affect homebuyer demand and pricing power in Florida's market.
- Inventory Dynamics
- Whether the tightening supply will continue to support stable or rising prices despite slower sales growth.
- Migration Trends
- The pace at which renewed migration into Florida could offset cooling sales trends.