Former pandemic boom markets including Tampa, Orlando and Miami posted a median 9.2% absorption rate, showing homes are taking longer to sell than in less pandemic-driven markets.
HousingWire found 45.3% of listings in those high-growth markets had price cuts, versus 28.3% elsewhere, while inventory reached a median 2.8 months of supply compared with 1.3 months.
Florida Realtors said the shift looks more like normalization than decline: single-family inventory in May was only a little more than 7% above April 2019, with days on market closer to pre-pandemic conditions.
For agents and clients, the adjustment means pricing and negotiations increasingly hinge on current neighborhood comps, with buyers in higher-inventory areas gaining more room to seek repairs, concessions or lower prices.