Florida condo sales grow at both ends of market

 By Amy Connolly

Florida’s townhouse and condo market posted a 9% year-over-year increase in second-quarter sales, with the strongest gains among properties priced below $200,000 and those selling for $1 million or more. Sales also rose sharply in several metro areas, including Panama City, Punta Gorda, Cape Coral-Fort Myers and Naples.

Florida’s townhouse and condo market gained ground in the second quarter, with the strongest sales growth coming from properties priced below $200,000 and those selling for $1 million or more.

Closed sales of units priced below $200,000 rose 18.4% from a year earlier to 6,205, according to Florida Realtors® data. At the other end of the market, sales of properties priced at $1 million or more jumped 29.5% to 2,195.

The results point to increased activity among two very different groups: buyers searching for lower-priced housing options and those shopping in Florida’s luxury market.

Growth within the million-dollar category extended across every price range. Sales between $1.25 million and $1.49 million rose 33%, while sales from $1.5 million to just under $2 million increased 37.4%. Sales between $2 million and $2.99 million climbed 39.4%.

The highest-priced categories posted even larger percentage gains, although they accounted for fewer transactions. Sales between $5 million and just under $10 million increased 48.8%, while sales of $10 million or more rose 59.3% to 43.

Most of the middle price ranges also improved, but more modestly. Sales rose 3.2% for properties priced between $200,000 and $299,999 and 1.8% in the $300,000 to $399,999 range. The only category to decline was $800,000 to $899,999, where sales fell 3.2%.

Overall, Florida recorded 27,106 townhouse and condo sales during the quarter, up 9% year over year. The statewide median sale price remained unchanged at $310,000.

The sales gains were spread across several parts of the state. Panama City posted the largest percentage increase among Florida metropolitan areas, with townhouse and condo sales rising 40.1%. Sales increased 31.6% in Punta Gorda, 26.9% in Cape Coral-Fort Myers, 26.6% in Sebastian-Vero Beach and 21.3% in Naples.

Those markets cover a wide range of price points. The second-quarter median townhouse and condo price was $255,000 in Punta Gorda, $285,000 in Cape Coral-Fort Myers, $367,000 in Panama City and $465,000 in Naples.

© 2026 Florida Realtors®

Florida pending sales outperform national market

 By Amy Connolly

Florida single-family pending sales rose 4.1% year over year in June, outperforming national and regional declines. Closed sales and prices also increased, though the monthly pending-sales total fell from May.

Florida’s single-family housing market showed stronger year-over-year momentum than the nation, with new pending sales rising in the state while declining nationally, according to the latest housing data. 

New pending sales of Florida single-family homes increased 4.1% from June 2025, reaching 24,235, according to Florida Realtors® data. Pending inventory, which measures all homes under contract at the end of the month, rose 5.1% year over year to 32,034.

Nationally, pending home sales fell 0.3% from a year earlier, according to the National Association of Realtors®. The South posted a 0.9% annual decline, making Florida’s increase particularly notable within the region.

The statewide numbers suggest Florida buyers remained active despite mortgage rates near 6.5% and affordability concerns weighing on the broader U.S. market. New pending sales also increased 4.8% year over year in May.

The statewide numbers suggest Florida buyers remained active despite mortgage rates near 6.5% and affordability concerns weighing on the broader U.S. market. New pending sales also increased 4.8% year over year in May.

Sales activity typically slows after the spring buying season, with both new pending sales and closed sales generally lower in the summer. Because that pattern occurs nearly every year, Florida Realtors economists said the more important measure is whether sales are rising or falling compared with the same period a year earlier.

For now, that trend remains positive. However, if the year-over-year change in new pending sales moves closer to zero or turns negative, closed sales could follow a month or two later. That could become more likely if mortgage rates rise above their year-ago levels in the coming months.

Pending sales are considered an early indicator of future closings because they represent homes that are under contract but have not yet completed the sales process. Not every pending contract closes, however, because financing, inspections, appraisals and other issues can cause transactions to fall through.

Florida’s completed sales also strengthened in June. Closed sales of single-family homes increased 9.3% year over year to 26,036, while the median sale price rose 4.9% to $432,000. The large annual sales gain was partly influenced by an unusually weak June 2025, but total sales remained higher than last year and close to June 2023 levels.

For Realtors®, the statewide increase in pending sales provides a useful starting point for conversations with buyers and sellers, but local conditions may differ.

© 2026 Florida Realtors®

Florida economy moves up to No. 14 globally

 By Amy Connolly

The state's $1.8 trillion economy is now the world’s 14th largest after surpassing Australia and Mexico, according to the Florida Chamber Foundation. The foundation said Florida’s economy grew 6.3% over the past year, moving the state closer to its goal of ranking among the world’s 10 largest economies by 2030.

Florida’s $1.8 trillion economy is now the 14th largest in the world, surpassing Australia and Mexico, according to the Florida Chamber Foundation.

The new ranking, up from 15, moves Florida closer to the Florida 2030 Blueprint’s goal of becoming one of the world’s 10 largest economies by 2030.

Florida’s economy grew 6.3% over the past year, the foundation said. At its current size, the economy would need to grow about 2% to surpass South Korea and reach No. 13. Moving into the top 10 would require about 21% additional growth, with Canada currently ranked 10th.

“Florida’s rise to the world’s 14th largest economy is part of our Florida 2030 Blueprint plan and further proof that free enterprise works,” said Mark Wilson, president and CEO of the Florida Chamber of Commerce and Florida Chamber Foundation. “Florida continues creating jobs, attracting investment, welcoming new businesses, and giving families greater opportunity to succeed.”

The foundation highlighted several areas in which Florida ranks among the nation’s leaders:

• No. 1 for new business startups
• No. 1 higher education system
• No. 1 for manufacturing job growth
• No. 1 for net income migration
• No. 1 for new business migration
• No. 1 for Black-owned businesses
• No. 2 for Hispanic- and women-owned businesses
• Lowest state debt per capita
• 155,742 fewer children living in poverty since the Florida 2030 Blueprint launched

“This ranking reflects the impact of Florida’s economic growth over time,” said Sheridan Morby, the foundation’s senior director of economic research. “Strong labor market expansion and business investment continue to help position Florida among the world’s largest economies.”

The Florida Chamber Foundation plans to provide additional analysis in its 2026 Florida Business & Economic Mid-Year Report next month. The report will examine economic growth, population changes, inflation, manufacturing, workforce development and housing affordability.

© 2026 Florida Realtors®

Florida pending sales surge points to stronger months ahead

 By Amy Connolly

New pending sales of single-family homes in Florida rose 8% year over year in April, a sharp increase that Florida Realtors Chief Economist Dr. Brad O’Connor said could signal continued closed-sales growth into May and June.

New pending sales of single-family homes in Florida jumped 8% year over year in April, a sharp increase that could signal stronger housing activity heading into the summer market, according to Florida Realtors® Chief Economist Dr. Brad O’Connor.

The April gain was more than double the increases seen in February and March, when pending sales growth remained much more modest statewide.

Pending sales measure how many homes went under contract during the month and are widely viewed as a leading indicator for future closed sales because most transactions finalize several weeks later.

“One of the first things you might notice is that new pending sales for single-family homes in Florida were up year over year quite a bit in January, but in February and March, they were up much more modestly,” O’Connor said during Florida Realtors’ April housing market update.

April’s stronger reading may point to more buyers continuing to move forward despite affordability pressures and elevated mortgage rates.

“Here, we see an 8% year over year increase, which is more than double the increases we saw in each of the previous two months,” O’Connor said. “As a result, I think we can be pretty confident that our run of rising closed sales will continue into May, and likely June.”

For Realtors® in Florida, the increase in pending sales could provide an early indication that buyer activity may remain steadier through late spring and early summer than some expected earlier this year.

The stronger pending-sales numbers also build on a market that has already seen eight consecutive months of year-over-year gains in closed single-family home sales statewide. In April, closed sales rose nearly 2.5% from a year earlier.

© 2026 Florida Realtors®

Child care costs add pressure for Florida buyers

 By Amy Connolly

A Realtor.com report found child care costs are adding to affordability challenges for families already weighing home prices, rents, insurance and other expenses.

Rising child care costs are giving Realtors® another affordability factor to consider as families weigh whether to buy, where to live and how much home they can comfortably afford.

A new Realtor.com report found families in every state spend well above the federal affordability benchmark for child care, which is considered affordable when it costs no more than 7% of household income. At the same time, many households are already stretched by elevated home prices, rents, insurance costs, taxes and everyday expenses.

For Realtors, the issue is not child care itself. It is how a major monthly expense can change a buyer’s housing budget, location preferences and timeline.

In Florida, the numbers are significant. According to the Economic Policy Institute, infant care for one child takes up 14.10% of a median family’s income. Child care for an infant and a 4-year-old costs $22,569 a year, which is 13.20% more than average rent in Florida. Realtor.com data also found the cost of child care is equal to the median mortgage payment in the state.

That kind of expense can help explain why some buyers who qualify for a mortgage may still hesitate, lower their price range or choose a different location. Families may stay in smaller homes longer, move closer to relatives, prioritize school and child care proximity, or look farther from job centers for lower housing costs.

The data also gives real estate professionals useful context for conversations with sellers. Buyers with stable jobs and financing may still be sensitive to price, concessions and monthly payment changes because housing is only one part of the household budget.

Florida’s affordability challenges remain broader than one expense. The statewide median listing price is about $420,000, according to Realtor.com, while median rents remain elevated, especially in higher-cost markets such as Miami and Naples.

For real estate professionals, the takeaway is that affordability conversations increasingly need to account for the full monthly cost of living. Child care, insurance, taxes, HOA fees, commuting costs and maintenance expenses can all influence whether a potential homeowner moves forward with a search, pauses plans or adjusts what they’re looking for.

Source: Realtor.com
© 2026 Florida Realtors®

Florida’s aging homeowners may not ease inventory shortage

 By Amy Connolly

Florida leads the nation in 65-plus households, but NAHB says the “silver tsunami” alone won’t solve tight housing inventory.

Florida’s aging population may shape future inventory, downsizing and senior housing demand, but a new analysis suggests Realtors® should not expect a sudden wave of baby boomer-owned homes to hit the market.

A National Association of Home Builders (NAHB) analysis found Florida dominates the nation’s rankings for households led by someone age 65 or older. The Villages led all U.S. metros, with 68.2% of households headed by someone 65 or older.

But the long-discussed “silver tsunami” is unlikely to solve housing shortages on its own, researchers said. Many older homeowners are staying put longer because they own their homes outright, face rising assisted-living costs or have limited affordable options for their next move.

For Realtors in Florida, the trend points to gradual turnover rather than a sudden inventory surge, especially in retirement-heavy markets where inbound retiree demand continues to absorb available homes. It also creates opportunities for listing preparation, renovation conversations, downsizing planning and referrals tied to senior-focused housing needs.

Florida metros with the highest share of 65+ households

• The Villages: 68.2%
• Homosassa Springs: 52.7%
• Punta Gorda: 52.5%
• Sebastian-Vero Beach-West Vero Corridor: 50.9%
• Naples-Marco Island: 49%
• Sebring: 46.6%
• North Port-Bradenton-Sarasota: 46.1%
• Ocala: 44.6%
• Cape Coral-Fort Myers: 41.9%
• Port St. Lucie: 41%
• Deltona-Daytona Beach-Ormond Beach: 40%
• Lakeland-Winter Haven: 37.8%
• Palm Bay-Melbourne-Titusville: 37.6%
• Crestview-Fort Walton Beach-Destin: 36.9%
• Pensacola-Ferry Pass-Brent: 36.3%
• Gainesville: 35.7%
• Tampa-St. Petersburg-Clearwater: 31.9%
• Miami-Fort Lauderdale-West Palm Beach: 29.9%
• Jacksonville: 27%
• Orlando-Kissimmee-Sanford: 25.2%

Researchers concluded the aging population alone will not solve affordability challenges and said additional homebuilding remains critical, especially in high-demand markets.

Source: NAHB

© 2026 Florida Realtors®

Study: Buying may outpace renting in Florida

 By Amy Connolly

A 10-year rent-vs.-buy analysis found projected homeowner equity topped renter investment returns in five Florida markets, led by Miami.

Buying in Florida may offer a long-term wealth advantage over renting in several major markets, even when renters invest the money they would have spent on ownership, according to a new analysis.

AD Mortgage’s 2026 “10-Year Rent vs. Buy Wealth Study” compared projected 10-year outcomes for homeowners and renters in 250 U.S. cities. The study measured homeowner equity against renter investment returns, assuming renters invested the down payment and monthly savings in the S&P 500.

In the five Florida markets included in the study, projected homeowner equity outpaced renter investment returns by about $275,000 to more than $509,000.

Miami (South Florida) showed the largest Florida gap. The study projects a typical Miami buyer could build about $1.04 million in equity over 10 years, compared with about $534,000 for a renter who invests instead. That represents an ownership advantage of about $509,000.

Other Florida markets also favored buying over a 10-year period. St. Petersburg showed a projected homeowner advantage of $361,852, followed by Tampa at $340,562, Orlando at $317,027 and Jacksonville at $275,256.

For Realtors in Florida, the study offers a useful way to discuss the long-term tradeoffs between buying and renting. Monthly payments, insurance, taxes and upfront costs remain major barriers for many buyers, and ownership is not the right financial move for everyone.

But the analysis shows how appreciation and loan paydown can change the equation over time, particularly in high-growth Florida markets. For buyers who are financially ready and plan to stay put long enough, the long-term wealth case for ownership may still be strong.

© 2026 Florida Realtors®