Florida Pending Home Sales Rise 9.8% to 6,208 as 44% of Listings Cut Prices

1 articles · Updated · HousingWire · May 29

Statewide pending sales reached 6,208 in the latest week, up 9.8% from a year earlier, signaling Florida housing demand is stabilizing after a prolonged rate-driven slowdown.
Median list prices stood at $495,000 and new listings at $450,000 as buyers pushed back against pandemic-era asking prices; 44% of listings took cuts.
Inventory growth has largely flattened over the past eight months, with single-family homes closing in 44 days and condos or townhouses around 60 days.
Condominiums remain the softest segment at roughly nine months of supply, partly because post-Surfside regulations have lengthened selling times even as condo sales also rose year over year for eight straight months.
Migration into Florida still supports the market, but economists say mortgage rates, insurance costs and oil-driven geopolitical uncertainty will determine whether the recent stabilization holds.

Nearly half of Florida sellers are cutting prices. Is the market truly stabilizing or on the brink of a downturn?

As a new Fed chair takes over, will his policies cool or ignite Florida's already hot housing market?

With 'hidden costs' nearing 40% of payments, what is the true price of owning a home in Florida?