Florida housing market levels off in August
Florida home sales dipped slightly in August, but tightening inventory and rising prices point to a leveling market, Florida Realtors Chief Economist Dr. Brad O’Connor said.
Florida’s housing market showed signs of leveling off in August, with tightening inventory and rising prices helping offset slight declines in closed sales.
August 2026: Sales Slow. Prices Hold.
Closed sales of single-family homes fell about 1.5% from August 2025, while closed sales of condos and townhouses declined just under 2%, according to Florida Realtors® Chief Economist Dr. Brad O’Connor. New pending sales of single-family homes also dipped, ending 12 consecutive months of year-over-year gains.
Still, O’Connor said the latest numbers look more like a market settling into a steadier pace than one taking a significant turn for the worse.
“Sales remain relatively stable, inventory continues to tighten, and home prices are holding up well despite mortgage rates that remain challenging for many buyers,” he said.
Mortgage rates have remained between 6% and 7% for much of 2025 and 2026. While that does not represent a major shift in affordability, rates are now higher than they were a year ago, slowing the pace of sales growth.
“On the margin, the recent rise in rates has been enough to slow home sales growth,” O’Connor said.
August also brought some encouraging signs. New pending condo and townhouse sales increased slightly, extending their year-over-year growth streak to 13 months. Inventory continued to fall in both property categories, helping support prices.
August’s statewide market data showed:
- Single-family closed sales fell about 1.5% year over year.
- Condo and townhouse closed sales declined just under 2%.
- New pending single-family sales ended a 12-month streak of year-over-year gains.
- New pending condo and townhouse sales rose slightly for the 13th consecutive monthly gain.
- Single-family inventory declined 13% from a year earlier.
- Condo and townhouse inventory fell 11.5%.
- The single-family median sale price rose just over 1% to $415,000.
- The condo and townhouse median price increased nearly 3% to just under $298,000.
The single-family median price has now risen year over year for six consecutive months. Inventory in that category also fell below where it was two years ago, while condo and townhouse inventory moved closer to 2024 levels.
O’Connor said affordability challenges are likely to remain, but Florida continues to see signs of renewed migration and movement among buyers and sellers who had been waiting for the market to return to its 2021 conditions.
“There’s not much here that suggests Florida’s housing market is suddenly headed in a dramatically different direction,” he said.
Statewide numbers offer a broad view, but local conditions can vary by property type, price point and community. Florida Realtors members can use SunStats for free to compare the latest sales, inventory and pricing trends in their markets.
© 2026 Florida Realtors®