Florida’s housing market showed signs of settling into a steadier rhythm in August, ending nearly a year of improving sales. Closed transactions slipped modestly from a year earlier, while limited inventory helped keep prices stable. Mortgage rates between 6% and 7% continued to weigh on affordability, but the data did not point to a sharp market downturn.
Key takeaways
- Single-family home sales fell 1.4% year over year to 21,497.
- Condo and townhouse sales declined 1.8% to 7,291.
- The median single-family price reached $415,000, up 1.2%.
- The median condo-townhouse price rose 2.8% to $298,000.
- Inventory tightened to 4.3 months for single-family homes and 7.7 months for condos and townhouses.
Sales momentum loses steam
August marked a change in direction after 11 consecutive months of year-over-year growth in closed single-family sales. New pending sales for single-family homes also ended a 12-month growth streak. Condo and townhouse sales experienced a similar, though slightly smaller, decline.
Economists characterized the shift as a speed bump rather than a collapse. Closed sales typically reflect contracts signed several weeks or months earlier, meaning market conditions can take time to appear in the data.
Mortgage rates remain a central obstacle
Mortgage rates have generally stayed within a 6% to 7% range through 2025 and 2026. Although that range represents a relatively modest long-term movement, rates were higher than a year earlier in August, adding pressure to monthly payments and limiting purchasing power.
The higher borrowing costs appear to have slowed the pace of sales growth rather than caused a dramatic retreat. Affordability challenges are expected to remain a factor for buyers in the months ahead.
Tight inventory supports prices
Prices held up despite slower activity because available homes continued to tighten. Single-family inventory was down 13% from a year earlier, while condo and townhouse inventory declined 11.5%.
The statewide single-family median price increased for a sixth consecutive month. Condo and townhouse prices also strengthened, moving closer to levels seen before recent market disruptions. The median price represents the midpoint of sales, with half of properties selling above it and half below it.
A more balanced market emerges
The August figures suggest Florida is moving away from the unusually fast pace of the 2021 housing market and toward more measured conditions. Buyers have more time to evaluate properties than they did during the pandemic-era surge, while sellers must pay closer attention to pricing, timing and local competition.
Statewide results mask significant differences among communities, price ranges and property types. Some areas may still favor sellers, while others offer buyers greater negotiating room. Renewed migration into Florida and the return of buyers and sellers who had delayed decisions could help keep activity relatively stable through the coming months.
- Fla.’s Housing Market: Median Prices Hold Steady as Pace Eases, PR Newswire.
- Florida housing market levels off in August, | Florida Realtors.
- What is the Florida housing market doing right now? | Real Estate, mydailyrecord.com.
- August 2026: Sales Slow. Prices Hold., | Florida Realtors.