Orlando – September 18, 2026 -- Florida's housing market snapped an 11-month streak of year-over-year sales gains in August, as closed sales of existing single-family homes fell 1.4% to 21,497 units, according to Florida Realtors' latest report.
Condo-townhouse sales also decline as higher mortgage rates weigh on demand
Condo-townhouse transactions totaled 7,291 units in August, down 1.8% compared to August 2025. Florida Realtors Chief Economist Dr. Brad O'Connor said the state had seen 12 consecutive months of year-over-year growth in new pending sales for single-family homes and 11 straight months of growth in closed sales before the streaks ended in August. He attributed the reversal to mortgage rates that have risen through the first half of 2026, narrowing and then flipping the year-over-year rate gap that had previously supported sales momentum.
Median home prices rise despite tightening inventory
The statewide median price for single-family existing homes reached $415,000 in August, up 1.2% from a year earlier, while condo-townhouse median prices climbed 2.8% to $298,000. Single-family homes carried a 4.3-months' supply, while condo-townhouse inventory stood at 7.7 months.
Realtors group says market is rebalancing, not collapsing
2026 Florida Realtors President Chuck Bonfiglio Jr., broker-owner of AAA Realty Group in Plantation, said prices remain relatively steady even as inventory tightens and conditions shift quickly between local markets. O'Connor noted that the 2025-2026 movement of the 30-year fixed mortgage rate between 6% and 7% has not constituted a major affordability shift, but has been enough on the margin to slow sales growth. He added that migration into Florida is showing signs of picking back up, with buyers and sellers who had been waiting for a return to 2021-era conditions increasingly deciding there is little benefit to further delay.