Florida's Housing Market has reached the point of inflection, where the crash has begun. Homes for sale and inventory have spiked across markets like Orlando, Tampa, Sarasota, and Lakeland. Meanwhile - investors are now rushing to the door to sell properties before home prices crash.

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This spike in listing and inventory is now forcing sellers in Florida's Housing Market to reduce prices. Particularly real estate investors who bought at the peak of the bubble in Florida and are quickly going underwater on their mortgages and financing.

And when home prices in Florida drop, I'm skeptical that the buyers will be there to revive the market. That's because living and buying a house in Florida has gotten way too expensive over the last several years. Especially now with insurance and HOA costs skyrocketing across the state.

One market that has turned down as of late in Florida is Lakeland. Where inventory has now skyrocketed to the highest level in 7 years. Another market like this is Palm Bay. With another being Osceola County near Orlando. All of these areas are experiencing suppressed buyer demand combined with a flood of new listings.

Homebuyers buying in Florida in 2024 need to be careful as a result. While the state has good long-term growth potential and should appreciate well over the long-term, buying into the market today could result in a loss of equity and downpayment.
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