Florida Real Estate Market Trouble
The price of residential real estate in Florida has risen for decades, only interrupted by the 2008 financial crisis. People moved from the northern tier of states because of warm weather and low tax rates. That growth has reversed, probably because hurricanes have destroyed billions of dollars in property and sent insurance rates soaring. New research shows that half of the ten weakest real estate markets for 2025 are in Florida.
Real estate research firm CoreLogic released its “US Home Price Insights – March 2025.” Among its conclusions, “Florida and Arizona top the charts for markets where the risk of price decline is very high.” The Phoenix market has posted growth as explosive as Florida’s.
Forecasts For National Number
CoreLogic forecasts that home values nationwide will rise 3.6% this year. The national median home price is $375,000.
Fort Myers’s home prices are expected to fall 3.9% year over year in 2025, the worst performance forecast for any city in America. Hurricane activity heavily damaged Fort Myers in 2023 and 2024. On Florida’s west coast, Sarasota has the second-worst forecast, and home prices are expected to drop 2.7% yearly. It is north of Fort Myers and has also suffered hurricane damage.
Tampa Challenge
Winterhaven, FL, is inland from Tampa. It is another city that has suffered hurricane damage. It is expected to have the fifth worst home price performance this year, forecast to be down .9%, the same as the sixth city on the list, Tampa.
Daytona is seventh on the list of cities forecasted to be among the worst-performing, with an expected drop of .3% year over year.
Five cities in Florida are on the list, which is not a coincidence. Hurricanes in the area are expected to become more violent and frequent as time passes.
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