Florida Housing Market Faces Rapid Cooldown Amid Rising Insurance Costs and Natural Disasters

New construction and surging insurance premiums contribute to oversupply and decreased demand in key Florida metros.

Florida's Gulf Coast cities, including North Port and Tampa, are experiencing the fastest cooling in the housing market.
Natural disasters and high insurance costs are major factors driving down demand and increasing housing supply.
Home prices in Florida remain significantly higher than pre-pandemic levels despite recent declines.
New York and Midwest regions are seeing increased demand due to relative affordability and lower home prices.
Texas also shows signs of cooling in some metros, though it remains a significant home-building state.