Orlando – October 16, 2026 -- Florida's existing single-family home sales fell 3.5% year-over-year in September to 20,537 closings, the second straight month of annual declines, as higher mortgage rates halted the modest growth of the past 12 to 14 months, according to Florida Realtors.
Third-quarter sales hold flat for houses and rise for condos
Statewide existing single-family sales totaled 65,904 in the third quarter of 2026, up 0.2% from the same period a year earlier. Existing condo-townhouse sales reached 22,664, up 3.1%.
September condo-townhouse closings totaled 7,179, about level with September 2025 (-0.1%). Closed sales can occur 30 to 90-plus days after contracts are written, so the figures lag buyer activity.
Single-family median price climbs 2.4% in the quarter to $420,000
The September statewide median price for existing single-family homes was $415,000, up 1.2% year-over-year. The third-quarter single-family median was $420,000, up 2.4%.
Condo-townhouse prices were weaker. The September median fell 1.8% from September 2025, and the third-quarter median was $295,000, unchanged from a year earlier.
Condo inventory runs at 7.7 months versus 4.4 months for houses
Single-family supply stood at 4.4 months in both September and the third quarter. Condo-townhouse supply was 7.7 months for both periods. Florida Realtors said inventory tightened compared with a year ago.
Chief economist links the slowdown to mortgage rate gap
Florida Realtors Chief Economist Brad O'Connor called rising mortgage rates the biggest story in the housing market, in Florida and nationwide. He said rate fluctuations over the past two years have not been large by historical standards. Even so, the rise this year was enough to end the modest sales growth seen over the prior 12 to 14 months.
The gap between current rates and year-ago levels is "not doing the housing market any favors," O'Connor said. He added that moving from positive to negative annual growth can have a psychological impact on buyers, though the overall sales trend is not sharply different from earlier in 2026.
O'Connor said higher rates are weighing mostly on single-family sales, while the upper end of the market continues to perform quite well. He described the market as having "lost some momentum, but certainly hasn't fallen apart."
Florida Realtors President Chuck Bonfiglio, broker-owner of AAA Realty Group in Plantation, said homes generally moved through the market faster than a year earlier. He described the current market as one that rewards preparation and realistic expectations.