Florida’s housing market is undergoing a severe correction, with eight of the 10 largest home price declines in the nation last year.
PropFusion, a software company that provides a cloud-based platform for HOAs, released a new report detailing how Florida’s major metropolitan areas are seeing double-digit declines in home prices.
Key findings:
Median stock losses reach $17,000: The median stock loss across major Florida cities is $17,384, ranging from a low of $11,241 in Jacksonville to a massive loss of $38,719 in Northport.
Cape Coral and North Port are seeing the biggest price declines. Cape Coral had the steepest decline in the U.S. with a 10.27% decline, followed closely by Northport at 8.84%. Homeowners in both cities lost more than $38,000 in equity in one year.
This amendment is statewide. Beyond the hardest-hit areas, Tampa, Miami, Orlando, Deltona, Lakeland and Palm Bay all rank among the nation’s top 10 markets in terms of price declines.
Affordability is coming back. The sharp drop in prices has created a silver lining for buyers. Northport and Cape Coral recorded the most significant price-to-income ratio improvements in the country, effectively lowering the barrier to entry for local earners.
PropFusion co-founder Stuart Wilkinson says local buyers who have been unable to purchase homes in Florida over the past few years due to increasing unaffordability may have their first real opportunity to enter the Florida housing market with more affordability (and price) in 2026.
“Right now, Florida is at the center of a national housing correction as it looks to recoup all the gains it made in the post-pandemic frenzy. Losing $17,000 to $38,000 in equity will be a bitter pill for many sellers, but it will ultimately help restore balance to the real estate market,” Wilkinson said.
