An American Property Casualty Insurance Association report notes how recent legal reforms in Florida have delivered “real relief.”

Florida cracked down on legal system abuse in 2022 and 2023. Since those reforms took effect, Florida has seen homeowners’ insurance litigation decrease by nearly 50% in just 18 months.

As litigation declined, dozens of property-casualty insurers filed for rate decreases, more insurers entered or returned to the market and consumers experienced an average 14.5% reduction in property-casualty insurance costs compared to what would have occurred without reform.

As Florida insurance premium costs dropped, the number of civil lawsuits being filed decreased, and more insurers have entered the Sunshine State.

Source: The Capitolist

My Take: Speaking from experience. It pays to shop and contact more than one agency for quotes.

Mortgage Rates 

Decline Further

The 30-year fixed-rate mortgage declined again this week to 6.23%. Rates currently stand at their lowest level in the last three spring homebuying seasons. This improvement, coupled with a pickup in purchase applications and refinance activity, as well as an increase in monthly pending home sales, underscores signs of improving momentum in the market.

• The 30-year fixed-rate mortgage averaged 6.23% as of April 23, 2026, down from last week when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.81%.
• The 15-year fixed-rate mortgage averaged 5.58%, down from last week when it averaged 5.65%. A year ago at this time, the 15-year FRM averaged 5.94%.

Adults ages 61 to 79 continue to dominate the housing market, making up the largest group of home buyers and sellers, according to the National Association of Realtors®’ newly released 2026 Home Buyers and Sellers Generational Trends report.

Last year, baby boomers overtook millennials – the largest U.S. population – to become the biggest force of home buyers and sellers, proving to be a powerful backbone to the housing market. Their soaring home equity from decades of ownership may be freeing them to be more agile than other age groups who are struggling to afford higher home prices.

Baby boomers accounted for 42% of buyers and 55% of all home sellers – the highest of any other age group, according to NAR’s 2026 report.

Source: Florida REALTORS

Mortgage Rates 

Continue to Decline

Mortgage rates declined this week to a four-week low of 6.30%. Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season.

The 30-year fixed-rate mortgage averaged 6.30% as of April 16, 2026, down from last week when it averaged 6.37%. A year ago at this time, the 30-year FRM averaged 6.83%.

The 15-year fixed-rate mortgage averaged 5.65%, down from last week when it averaged 5.74%. A year ago at this time, the 15-year FRM averaged 6.03%.

The intensity of the housing downturn in Florida has eased somewhat in recent months.

Florida’s particularly intense overheating during the Pandemic Housing Boom is the key reason for its downside pricing vulnerability. While U.S. home prices rose +41% between March 2020 and June 2022, Florida home prices surged +51% over the same period—leaving some parts of the state significantly overvalued.

Over the past three years, 5 factors have come together to create a supply-demand equilibrium shift large enough to reveal some of that downside risk and push certain pockets of Florida into post-Pandemic Housing Boom corrections.

• The Pandemic Housing migration surge to Florida has fizzled out
• Increased Condo Fees due to new structural safety rules
• Hurricane Ian caused an estimated $112.9 billion of damage
• Increased level of homebuilding and multifamily construction.
• Florida’s sharp rise in insurance costs

Big picture: Softness—and even outright weakness—remains across many parts of Florida’s housing market. However, the intensity of the downturn in Florida has eased somewhat in recent months.

Source: ResiClub

Mortgage Rates 

Inch Down

Mortgage rates ticked down this week, averaging 6.37%. The decrease in rates represents a positive development for prospective homebuyers and could spark a more favorable spring homebuying season than last year.

• The 30-year fixed-rate mortgage averaged 6.37% as of April 9, 2026, down from last week when it averaged 6.46%. A year ago at this time, the 30-year FRM averaged 6.62%.
• The 15-year fixed-rate mortgage averaged 5.74%, down from last week when it averaged 5.77%. A year ago at this time, the 15-year FRM averaged 5.82%.

Older housing stock is keeping demolition activity elevated nationwide, with Florida accounting for the largest share of residential teardown permits, according to a National Association of Home Builders analysis of data from Construction Monitor.

Florida made up 14.6% of all U.S. demolition permits in 2025, more than any other state, underscoring how redevelopment is reshaping parts of the state’s housing market. The activity is largely tied to aging homes and continued population growth, which together are fueling demand for newer housing.

While demolition levels have leveled off after a surge in 2021 and 2022, they remain historically elevated – a sign that redevelopment will continue to play a key role in Florida’s housing pipeline.

Source: NAHB

Florida’s property and auto insurance markets are showing signs of stabilization following recent legal reforms, with premiums flattening or declining and more insurers entering the state.

Florida once accounted for more than 72% of the nation’s homeowners claim-related litigation in 2023, despite representing only 10% of U.S. homeowners claims.

As litigation eased, insurers expanded in the state. Eighteen new property insurers have entered the market, increasing competition and reducing reliance on Citizens Property Insurance Corp., the state-backed insurer of last resort.

Source: Florida Realtors

30-Year Fixed-Rate 

Mortgage Averages 6.46%

The 30-year fixed-rate mortgage edged up, averaging 6.46% this week. With spring homebuying season in full swing, aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes.

• The 30-year fixed-rate mortgage averaged 6.46% as of April 2, 2026, up from last week when it averaged 6.38%. A year ago at this time, the 30-year FRM averaged 6.64%.
• The 15-year fixed-rate mortgage averaged 5.77%, up from last week when it averaged 5.75%. A year ago at this time, the 15-year FRM averaged 5.82%.

Condos on the Gulf

Florida gained more wealth from high-earning newcomers than any other state in 2023, according to newly released data from the Internal Revenue Service.

In 2023, Florida gained $20.65 billion in annual adjusted gross income from tax filers who moved there from another state within the U.S., according to a Realtor.com® analysis of the IRS migration data.

Meanwhile, states notorious for high cost of living lost the most resident income through moves to other states, led by California (-$11.9 billion), New York (-$9.9 billion), Illinois (-$6.0 billion), Massachusetts (-$4.02 billion), and New Jersey (-$2.56 billion). The average income of people who moved to Florida from another state was $122,530, the highest among all U.S. states.

Source: Realtor.com & IRS Migration Data

Mortgage Rates 

Average 6.38%

Mortgage rates this week averaged 6.38%. The housing market continues to show gradual improvements compared to a year ago amid recent rate volatility. Purchase and refinance applications are up year-over-year, and rates remain lower than last year when they averaged 6.65%.

The 30-year fixed-rate mortgage averaged 6.38% as of March 26, 2026, up from last week when it averaged 6.22%. A year ago at this time, the 30-year FRM averaged 6.65%.

The 15-year fixed-rate mortgage averaged 5.75%, up from last week when it averaged 5.54%. A year ago at this time, the 15-year FRM averaged 5.89%.

During the Pandemic Housing Boom, housing demand was running so hot—and homes sold so quickly—listings barely even registered as active inventory. In February 2022, there were only 346,511 active homes for sale in the United States, according to Realtor.com’s data series. That was a staggering -68.5% below the 1,102,660 active listings in February 2019. Fast forward to today. Among the nation’s 200 largest housing markets, there are 66 markets where active housing inventory for sale at the end of February 2026 exceeded the levels those respective markets had in February 2019.

Inventory in our market in Tampa Bay is up 5.3% year over year and up 11.4% over pre-pandemic levels.

Source: ResiClub

Mortgage Rates 

Inch Higher Again

The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a percentage point lower than the same time last year. Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales.

• The 30-year fixed-rate mortgage averaged 6.22% as of March 19, 2026, up from last week when it averaged 6.11%. A year ago at this time, the 30-year FRM averaged 6.67%.
• The 15-year fixed-rate mortgage averaged 5.54%, up from last week when it averaged 5.50%. A year ago at this time, the 15-year FRM averaged 5.83%.

Incomes haven’t kept up with the cost to buy in the for-sale market. But they’re slowly catching up.

The annual U.S. household income needed to purchase the typical valued U.S. home is now $93,061.

That is +78.8% higher than it was in January 2020, it’s down -5.9% year-over-year.

The typical U.S. home value measured by the Zillow Home Value Index in January 2026 is still a staggering +44.7% greater than in January 2020.

Over the past two years, housing affordability has improved some; however, it still remains challenged.

The challenge, of course, is that incomes haven’t kept up. The gap has narrowed since the end of 2022; however, it’s still wide.

Source: ResiClub

Mortgage Rates 

Inch Higher

The 30-year fixed-rate mortgage returned to last month’s level of 6.11%. Despite the modest uptick, buyers are responding to rates in this range, with existing-home sales increasing 1.7% in February. Purchase applications also increased this week, a welcome sign as buyers enter spring homebuying season with rates down more than half a percentage point compared to the same time last year.

• The 30-year fixed-rate mortgage averaged 6.11% as of March 12, 2026, up from last week when it averaged 6.00%. A year ago at this time, the 30-year FRM averaged 6.65%.
• The 15-year fixed-rate mortgage averaged 5.50%, up from last week when it averaged 5.43%. A year ago at this time, the 15-year FRM averaged 5.80%.

A new study cites low business costs, strong workforce growth and high entrepreneurship rates as key factors behind Florida’s top ranking.

A combination of low corporate tax rates and a growing workforce made Florida the best state to start a new business so far in 2026, a WalletHub study found.

The study analyzed the 50 states in terms of three main categories: business environment, access to resources and business costs.

Florida stood out with the highest-percentage of adults engaging in entrepreneurship and the third-most startups per capita, the study found.

Another measure that set Florida above the rest was the finding that the state’s working-age population is growing faster than all but five states.

Source: 2026 WFLA

Mortgage Rates 

Hold Steady

Mortgage rates held steady at 6% this week, hovering near their lowest level since 2022. In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners. As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.

• The 30-year fixed-rate mortgage averaged 6.00% as of March 5, 2026, slightly up from last week when it averaged 5.98%. A year ago at this time, the 30-year FRM averaged 6.63%.
• The 15-year fixed-rate mortgage averaged 5.43%, slightly down from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 5.79%.

U.S. housing demand and listings are rising year over year, but metro absorption rates are diverging. Faster Northeast markets favor sellers, while slower Florida and Texas metros are seeing rising supply and growing buyer leverage. 

Metro-level differences in market speed are widening. That shift is beginning to influence leverage heading into peak spring activity.

Absorption measures how quickly inventory is being removed from the market relative to what’s available.

When absorption is elevated, homes clear quickly and sellers retain leverage. When absorption falls and supply builds, timelines stretch and buyers gain negotiating flexibility.

Northeast metros clearing inventory faster

Several Northeast metro areas are posting absorption rates near or above 18%. These markets are operating with roughly 1.3 to 1.5 months of supply, reinforcing seller leverage heading into peak spring activity.

Florida and Texas metros show slower turnover

Conditions are markedly different in parts of the Sun Belt, where several Florida and Texas metro areas are operating with 3.9 to 5.0 months of supply.

Source: HousingWire

Mortgage Rates 

Drop Below 5%

For the first time in three and a half years, the 30-year fixed-rate mortgage dropped into the 5% range, falling even lower than last week’s milestone. This rate, combined with the improving availability of homes for sale, is meaningful and will drive more potential buyers into the market for spring homebuying season.

• The 30-year fixed-rate mortgage averaged 5.98% as of February 26, 2026, down from last week when it averaged 6.01%. A year ago at this time, the 30-year FRM averaged 6.76%.
• The 15-year fixed-rate mortgage averaged 5.44%, up from last week when it averaged 5.35%. A year ago at this time, the 15-year FRM averaged 5.94%.

As 2025 came to a close, Florida’s housing market showed positive momentum, with closed sales of existing single-family homes up year-over-year, inventory (active listings) levels suggesting a return to normal seasonal patterns, and stabilizing statewide median prices, according to the latest housing data released by Florida Realtors®.

Statewide closed sales of existing single-family homes at the end of the year totaled 255,012, up 0.9% compared to the 2024 year-end level, according to data from Florida Realtors’ research department in partnership with local Realtor boards/associations. For existing condo-townhouses, a total of 88,793 units sold statewide in 2025, down 5.9% compared to 2024. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

Mortgage Rates 

Inch Down

Bolstered by strong economic growth, a solid labor market and mortgage rates at three-year lows, housing affordability continues to measurably improve. These factors have caught the attention of many prospective homebuyers, driving purchase application activity higher than a year ago.

• The 30-year fixed-rate mortgage averaged 6.09% as of February 12, 2026, down from last week when it averaged 6.11%. A year ago at this time, the 30-year FRM averaged 6.87%.
• The 15-year fixed-rate mortgage averaged 5.44%, down from last week when it averaged 5.50%. A year ago at this time, the 15-year FRM averaged 6.09%.