Some national reports depict Florida as a housing market in deep trouble with dire headlines declaring
“Foreclosure filings jump,”
“Prices ‘dropping hard,'” and
“Florida among the biggest losers.”
Despite some national reports of a housing crisis, Florida’s market saw a rise in home sales and a near-record median price in March.
While foreclosure filings have increased year-over-year, they remain a small fraction of the levels seen during the 2010 housing crash.
Experts argue that claims of plummeting demand are misleading, as the state’s housing inventory and population have grown at a similar rate.
Price reductions on some listings are often corrections from unrealistic asking prices set during the unsustainable COVID-era housing boom.
Florida’s housing market began shifting in late 2022, when a 28-month streak of double-digit annual price gains came to an end. At its peak, prices rose as much as 27% in May 2021, driven by a surge of new residents during the COVID-19 pandemic.
That growth has since cooled. Population gains slowed from about 1,518 new residents per day in 2022 to 539 per day last year, according to the U.S. Census Bureau—closer to the pre-pandemic pace of roughly 649 per day in 2019.
My Take: If you are just reading the headlines, you,re not getting the full picture. Unfortunately DOOM SELLS and gets clicks. Click bait Real Estate “Doomer Influencers” have been predicting a crash for the past 6 years. Context matters.
Mortgage Rates
Average 6.30%
The 30-year fixed-rate mortgage averaged 6.30% this week. As rates had modestly declined the last few weeks, purchase demand has accelerated with purchase applications rising to over 20 percent above a year ago. It is clear that purchase demand continues to hold up as prospective buyers react to both modestly lower rates and more inventory to choose from than the last few years.
The 30-year fixed-rate mortgage averaged 6.30% as of April 30, 2026, up from last week when it averaged 6.23%. A year ago at this time, the 30-year FRM averaged 6.76%.
The 15-year fixed-rate mortgage averaged 5.64%, up from last week when it averaged 5.58%. A year ago at this time, the 15-year FRM averaged 5.92%.
