Florida faces a national housing oversupply, with one in seven U.S. homes listed there, 1.8 times its share of total housing stock. Overbuilding during the pandemic in the Sun Belt collided with reduced buyer demand due to affordability, climate risk, and high insurance costs. Miami is the most lopsided buyer’s market, with high price drops and rising foreclosures linked to costly insurance and taxes. Inventory is down 14% year over year but challenges remain.
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