Florida home sales dipped slightly in August, but tightening inventory and rising prices point to a leveling market, Florida Realtors Chief Economist Dr. Brad O\u2019Connor said.<\/p>\n
By Amy Connolly | Florida Realtors<\/p>\n
Florida\u2019s housing market showed signs of leveling off in August, with tightening inventory and rising prices helping offset slight declines in closed sales.<\/p>\n
Closed sales of single-family homes fell about 1.5% from August 2025, while closed sales of condos and townhouses declined just under 2%, according to Florida Realtors\u00ae Chief Economist Dr. Brad O\u2019Connor. New pending sales of single-family homes also dipped, ending 12 consecutive months of year-over-year gains.<\/p>\n
Still, O\u2019Connor said the latest numbers look more like a market settling into a steadier pace than one taking a significant turn for the worse.<\/p>\n
\u201cSales remain relatively stable, inventory continues to tighten, and home prices are holding up well despite mortgage rates that remain challenging for many buyers,\u201d he said.<\/p>\n
Mortgage rates have remained between 6% and 7% for much of 2025 and 2026. While that does not represent a major shift in affordability, rates are now higher than they were a year ago, slowing the pace of sales growth.<\/p>\n
\u201cOn the margin, the recent rise in rates has been enough to slow home sales growth,\u201d O\u2019Connor said.<\/p>\n
August also brought some encouraging signs. New pending condo and townhouse sales increased slightly, extending their year-over-year growth streak to 13 months. Inventory continued to fall in both property categories, helping support prices.<\/p>\n
The single-family median price has now risen year over year for six consecutive months. Inventory in that category also fell below where it was two years ago, while condo and townhouse inventory moved closer to 2024 levels.<\/p>\n
O\u2019Connor said affordability challenges are likely to remain, but Florida continues to see signs of renewed migration and movement among buyers and sellers who had been waiting for the market to return to its 2021 conditions.<\/p>\n
\u201cThere\u2019s not much here that suggests Florida\u2019s housing market is suddenly headed in a dramatically different direction,\u201d he said.<\/p>\n