Desperate Floridians Are In Panic Mode! They Are Trapped In The State’s Impending Real Estate Market Crash 

Florida‘s pandemic property boom has officially collapsed. Now desperate Floridians want leave before their home values crater.

The Covid-19 pandemic created a surge in demand in real estate. Thus creating an unparalleled boom. However, all good things must come to an end and that is exactly what is happening in Florida now. Florida is now flooded with listings. Desperate Floridians are rushing to sell amid soaring costs and vanishing buyers.

The number of homes for sale across Miami-Dade, Broward, and Palm Beach counties has quadrupled since 2022. Thus, hitting the highest level since the 2008 financial crisis. 

Florida’s Housing Problems Are Unique 

The collapse is much worse than other states. This is due to some unique problems facing Florida. 

Desperate Floridians have begun panic selling. Florida residents have become spooked by skyrocketing HOA fees and soaring insurance premiums.

Florida real estate listings skyrocketed to more than 52,000 homes in April.

That’s a huge jump from just 12,825 listings during the peak of Florida’s COVID and post-COVID migration boom.

Florida residents pay $11,000 annually for homeowners insurance. This is the highest average home insurance premiums in the US.

Floridians also pay nearly four times the national average for homeowner’s insurance.

Additionally, most homeowners are also unable or unwilling to pay the current 6.84% for a 30-year fixed mortgage.