South Florida Homes for Sale Quadruple As Residents Leave En Masse [View all]

South Florida's housing market is undergoing a sharp reversal as the number of homes for sale climbs to its highest level in nearly a decade—quadrupling since 2022, figures show. Real estate analysts say the surge is driven by a drop in demand and a wave of homeowners deciding to sell amid rising costs and stagnant affordability.

Why It Matters

Florida's housing market is beginning to undergo what experts describe as a correction, as growing inventory and weakening demand start to ease the effects of years of overheated growth.

South Florida, home to many of the state's aging condominiums, has also been grappling with the effects of new building safety legislation enacted after the deadly collapse of Surfside's Champlain Tower South in 2021. The law mandates that condo associations carry out regular inspections and maintain sufficient reserves to cover essential repairs and maintenance.

What To Know

There were nearly 52,000 active home listings across South Florida's tricounty area in April, the South Florida Sun Sentinel reported, citing to data from real estate analytics tool Reventure.

https://www.msn.com/en-us/money/realestate/south-florida-homes-for-sale-quadruple-as-residents-leave-en-masse/ar-AA1EyiN1