Florida’s housing market presented a mixed picture in April 2026, with a notable increase in foreclosure filings occurring simultaneously with a rise in home sales. While distressed property activity climbed, particularly in certain metro areas, the overall market saw a positive trend in closed and pending sales, especially for condos and townhouses.
Key Takeaways
- Foreclosure filings in Florida increased in April, contributing to a national rise in distressed properties.
- Despite the uptick in foreclosures, Florida’s housing market experienced its eighth consecutive month of year-over-year closed sales gains.
- Condo and townhouse sales showed particular strength, with significant year-over-year increases in both closed and pending transactions.
- Rising costs, including insurance premiums and property taxes, are cited as key drivers for increased foreclosure activity in the state.
Foreclosure Filings on the Rise
Nationally, foreclosure filings saw an 18% increase compared to the previous year, with Florida emerging as one of the primary "hot spots" for distressed property activity. In April, 1 in every 2,092 housing units in Florida showed a foreclosure filing. This trend is attributed to a combination of factors, including soaring homeowners insurance premiums due to climate and storm risks, and climbing property taxes that have accompanied rapidly appreciated home values. Additionally, Florida’s high concentration of condo owners means they face not only mortgage payments but also escalating HOA fees, making monthly ownership burdens unsustainable for a growing number of residents.
Among metro areas with populations over 500,000, Lakeland, Florida, recorded the highest foreclosure rate, with one filing for every 1,221 housing units. Cape Coral, Florida, also appeared in the top five metro areas with a high foreclosure rate.
Home Sales Show Continued Momentum
In contrast to the rise in foreclosures, Florida’s housing market demonstrated robust growth in sales. April marked the eighth consecutive month of year-over-year closed sales gains. Single-family home sales increased by 2.4% compared to April 2025, totaling 24,129 statewide. The condo and townhouse segment experienced even stronger growth, with sales up 6.9% year over year, reaching 9,309 units.
Pending sales, a leading indicator for future closings, also surged. Single-family home pending sales jumped 8%, while condo and townhouse pending sales saw an impressive 14.7% increase. This suggests continued positive momentum heading into the summer months.
Market Dynamics and Median Prices
The median price for single-family homes in Florida rose by 1.8% to $420,000 in April. Condo and townhouse prices remained steady at $315,000. Active inventory continued to tighten, with single-family home supply at 4.7 months and condo and townhouse supply at 8.9 months. This tightening inventory, coupled with rising demand, indicates a market that is normalizing after a period of rapid price appreciation and tight supply, though affordability challenges persist for some homeowners.
Sources
- Delaware Emerges as a Hot Spot, Realtor.com.
- Florida home sales rise again in April, | Florida Realtors.