– Florida’s real estate market is experiencing a slowdown after a period of rapid growth during the pandemic.
– Inventory levels are rising across many Florida markets, offering buyers more choices. Redfin data shows inventory up significantly year-over-year in many metro areas.
– Mortgage rates remain elevated, impacting affordability and dampening buyer demand. As of October 2024, rates hovered around 7-8%.
– Price growth has slowed or even reversed in some areas. Zillow data indicates price decreases in certain markets, but overall prices remain higher than pre-pandemic levels.
– Insurance costs are a major concern, especially in coastal areas. Citizens Property Insurance Corporation, the state-backed insurer, has seen significant growth in policyholders due to private insurers pulling back. Premiums are high.
– Property taxes are increasing in many areas, further impacting the total cost of homeownership.
– Investor activity has cooled down, reducing competition for first-time homebuyers and other owner-occupants.
– Specific markets such as Miami, Tampa, and Orlando are showing varied trends.
– Median sales prices varied widely from $350,000 to $600,000 based on city.

Florida’s real estate market faces uncertainty. Inventory is rising, with some areas experiencing significant increases in listings year-over-year. Mortgage rates remain elevated, impacting affordability. While prices have cooled from peak levels in 2022, a major price drop is not universally predicted. Some experts anticipate a continued moderation or stabilization, while others foresee minor price declines in certain regions. Population growth, a key driver of demand, is slowing but remains positive. Investment properties may see more price adjustments due to sensitivity to interest rates. Local market conditions vary significantly, meaning blanket statements about the entire state are unreliable.

I don’t know where April went, but we’re at the end of it, and 2025 is 1/3 over. The future sure quickly becomes the past. In the book “1984” George Orwell observed, “Who controls the past controls the future. Who controls the present controls the past.” What does that have to with today, or with residential lending? There’s no problem if there’s no one to research it, report on it in the news, or write about it, right? Of course, weather, which is related to the world’s climate, impacts servicers, insurance companies, and lenders. In this case, the Trump Administration has fired the entire U.S. climate panel: What it means for future research? The recent decision of the Trump administration to dismiss 400 authors of the National Climate Assessment will impact climate research and sideline people from knowing the impacts of climate change. Don’t forget that, a few months ago, hundreds of federal NOAA employees, including weather forecasters, were fired as part of DOGE cuts, as reported by Fox. (Today’s podcast can be found here and this week is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Hear an interview with LendingTree’s Matt Schulz on the most attractive states for out-of-state home shoppers.) Software, Products, and Services for Lenders and Brokers