SKN | Florida Housing Market Gains Momentum as Sales and Home Prices Rise in June and Second Quarter

Florida’s residential real estate market strengthened during June and throughout the second quarter of 2026, posting gains in closed sales, pending transactions, and median home prices across both single-family homes and condo-townhouse properties. According to the latest data from Florida Realtors®, increased inventory and steady buyer demand have helped support market activity even as mortgage rates remain above pandemic-era lows.

The latest figures suggest Florida’s housing market continues transitioning toward a more balanced environment, with buyers benefiting from greater selection while sellers continue to see stable property values.

The Assumption: Higher Mortgage Rates Continue to Freeze the Housing Market

Many prospective buyers and sellers assume elevated mortgage rates are preventing meaningful housing market activity.

Recent Florida housing data tells a more nuanced story. While financing costs remain higher than the exceptionally low rates experienced during the pandemic, buyers have increasingly adjusted to mortgage rates in the mid-6% range, particularly when attractive inventory becomes available.

Florida Realtors President Chuck Bonfiglio Jr. noted that today’s mortgage rates remain within historical norms that buyers have successfully navigated for decades, contributing to renewed transaction activity across many local markets.

The Economic Breakdown: Sales and Prices Continue Moving Higher

Statewide closed sales of existing single-family homes reached 26,036 in June, representing a 9.3% increase compared with June 2025. Existing condo-townhouse sales totaled 8,900, rising 14% year over year.

Second-quarter results also reflected improving market conditions. Existing single-family home sales reached 75,080, an increase of 4.1% from the second quarter of 2025, while condo-townhouse sales climbed to 27,101, up 9% over the same period.

Median home prices also continued to edge higher. The statewide median price for existing single-family homes reached $432,000 in June, a 4.9% increase from one year earlier. Existing condo-townhouse properties recorded a median sales price of $305,000, up 1.7% year over year.

For the second quarter, the median single-family home price stood at $425,000, representing a 2.4% annual increase, while condo-townhouse median prices remained unchanged at $310,000, indicating continued price stability.

The Hidden Picture: Inventory Is Restoring Market Balance

While rising sales often attract attention, increasing housing supply may be one of the market’s most important developments.

Florida ended both June and the second quarter with approximately 4.5 months of inventory for existing single-family homes, moving closer to a balanced market between buyers and sellers.

The condominium market offers even greater selection, with an 8.1-month supply of available properties. This elevated inventory provides buyers with increased negotiating power while placing greater emphasis on competitive pricing and property presentation for sellers.

Jennifer Warner, Florida Realtors’ Director of Economic Development and Commercial Research, noted that year-over-year comparisons should be viewed in context. June 2025 represented an unusually weak sales period as mortgage rates approached 7%, creating a relatively low comparison base. Current sales volumes more closely resemble activity seen during 2023, suggesting the market has largely adjusted to today’s financing environment.

Warner also noted that home prices continue reflecting the supply-and-demand dynamics that established Florida’s “new normal” pricing levels following the pandemic housing boom.

Buyers and Sellers Face a More Balanced Market

The latest market data indicates that Florida’s housing market is becoming more balanced after several years of extraordinary volatility.

Buyers now have greater inventory, improved negotiating opportunities, and more time to evaluate available properties than they experienced during the highly competitive pandemic market. At the same time, sellers continue benefiting from resilient home values, although pricing strategy and property condition have become increasingly important as competition among listings grows.

Rather than experiencing either a sharp correction or renewed rapid appreciation, Florida’s market appears to be transitioning toward a more sustainable pace characterized by moderate price growth, healthy inventory, and steady buyer demand.

Market Outlook

Florida’s housing market continues demonstrating resilience despite elevated borrowing costs. Stronger sales activity, stable price appreciation, and expanding inventory suggest that buyers are gradually adapting to current mortgage rate levels while taking advantage of increased housing choices.

Although affordability remains a significant challenge in many regions, improving inventory and moderating market conditions could support continued transaction growth during the second half of 2026 if mortgage rates remain relatively stable.

With inventory steadily increasing and buyers becoming more comfortable with higher mortgage rates, is Florida’s housing market entering a new period of sustainable balance, or will affordability pressures continue limiting long-term demand despite improving market conditions?