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lorida's meteoric rise as a magnet for homebuyers has hit a snag. The state that was once the fastest-growing in the country, attracting domestic transplants during the pandemic, is now experiencing a slowdown in growth due to rising housing costs and increased hurricane risk. According to new Census migration data, Florida's allure is waning, with Redfin attributing the decline to "eating into homebuyer demand."
Meanwhile, a deregulatory bill in Florida has sparked controversy among Realtors. The legislation, which cleared a second state House committee, proposes dismantling dozens of professional oversight boards, including the Florida Real Estate Commission. Realtors are pushing back against the move, citing concerns about the potential consequences for consumers.
In Palm Beach County, residents are objecting to a proposed residential project that would bring 259 homes to the Agricultural Reserve. While some see it as an opportunity for workforce housing, others argue that the development is too large and would disrupt the area's rural character.
Florida's Lakeland region has earned a dubious distinction: it has the nation's highest foreclosure rate among metro areas with at least 200,000 residents. One out of every 172 housing units had foreclosure filings in 2024, according to ATTOM data.
In Sarasota and Manatee counties, home values are plummeting faster than almost anywhere else in the country. Realtor Angie Ramos notes that buyer interest is at a minimum, and inventory is flooding the market. The reversal in one of the nation's most overheated housing markets has raised concerns about the broader economic health of the Suncoast.
A historic home in downtown Orlando has hit the market for $1.695 million. The residence is one of five units in a converted Pentecostal church built in 1928.
As federal programs that help first-time homebuyers and struggling homeowners face potential budget cuts, the annual Daytona Beach Housing Fair & Financial Wellness Clinic is more crucial than ever. The event aims to provide resources and support for those seeking to avoid foreclosure or purchase their first home.
Miami's real estate landscape is shifting, with urban growth, luxury developments, and affordable housing on the rise. Iconic rebuilds like the Deauville Hotel in Miami Beach are underway, while workforce housing developments address affordability through public-private partnerships.
In Jacksonville, demand for storage space has surged, driven by population growth, life transitions, and changing housing trends. The city is cementing its status as one of the most active self-storage markets in the country, with a development boom that frequently pushes residents into temporary housing and smaller apartments.
A vacant tower in downtown St. Petersburg, damaged by Hurricane Milton, could soon become a boutique hotel. Gianco Companies plans to demolish the decaying building and construct a 73-key branded hotel on the site.
