Florida home prices surged +51% during the pandemic, leaving many areas overvalued and vulnerable to correction.
Migration slowed, insurance costs rose, and new regulations increased ownership costs, weakening demand.
New construction added supply, while incentives pulled buyers away from existing homes.
Inventory growth is slowing, with some markets now seeing yearly declines in active listings.
Cooling inventory suggests Florida’s housing downturn is easing, though market softness still remains.
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