During the COVID-19 pandemic, the state of Florida saw a massive influx of new residents, specifically between January and June of 2020.
As states across the country began to implement lockdowns and restrictions to public areas, many Americans found themselves flocking to the beaches of Florida for more space and better outdoor recreational opportunities.
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Brian and Carol Delahunty were among this cohort. Near the end of 2020, the couple from Long Island, New York moved to Hutchinson Island in Florida with the dream of living on the beach. At that time, Florida was very much a seller’s market.
“When we moved here, it was like, well, if you like this, you better make a deal for today because it will be gone tomorrow,” Brian told WPTV.
But a lot has changed since 2020. Less than five years after the Delahuntys moved south, Florida’s housing market has seen a decline in demand, which has led to ballooning inventory, weakened sales and a drop in home prices.
Now, as the Delahuntys try to sell their home ahead of their move to nearby Fort Pierce, Florida is anything but a seller’s market.
“I figured the time would be a month or two, maybe three,” said Brian, who believed it wouldn’t take long to sell his home. “It’s been almost six months now, and it’s just a little frustrating.”
The Delahuntys are now among a growing number of Florida homeowners facing challenges in selling their homes as the state’s housing market undergoes a shift.
‘Florida is uniquely bad right now’
According to data from Redfin, home prices in Florida were down 2.2% in June 2025 when compared to the same period last year, and the decline is particularly bad in South Florida.
In fact, Palm Beach County — where the Delahuntys live — leads the Florida housing market with an inventory of more than 13,000 active home listings. That’s more than double the inventory in Indian River or St. Lucie counties — and significantly more than other nearby counties like Martin or Okeechobee.
“Our realtor had warned us that the market was a little saturated and that the condos aren’t selling as quickly,” said Brian’s wife, Carol.
According to the Miami Association of Realtors, sales in Miami-Dade County dropped 20.2% in May 2025 when compared to the same period last year. Making matters worse, condo sales in Miami-Dade are down 25% over the same period.
“South Florida is the epicenter of housing market weakness in the United States,” said Chen Zhao, head of economics research at Redfin, according to Newsweek. “The question for the rest of the country is, will this spread? Florida is uniquely bad right now.”
When evaluating Florida’s struggling housing market, there are a lot of factors to consider. But Joe Tumolo, a local realtor working with the Delahuntys, believes he knows what’s to blame.
“Interest rates are the number one reason,” Tumolo shared with WPTV. “A 3% interest rate versus a 7% interest rate is a big difference when it comes to monthly payments.”
“Affordability is a real issue,” Tumolo added. “Interest rates, property taxes, insurance — they all add up and wages just haven’t kept pace.”
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Tips for selling in a down housing market
Downturns in the market make selling your home more difficult, but not impossible. Here are some tips that may help you sell your property during a real estate slump:
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Price your home competitively: Set a realistic price based on current market conditions, using comparative market analysis to avoid overpricing
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Enhance your home’s presentation: Invest in improvements and staging your home that make it stand out, focusing on cost-effective updates that maximize visual appeal
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Choose the right real estate agent: Work with an experienced local agent who understands the current market dynamics and has a proven track record of selling homes in challenging conditions
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Market aggressively and creatively: Consider using multiple marketing channels, including professional photography, virtual tours and targeted online advertising to reach potential buyers
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Be flexible with negotiations: Prepare to be willing to negotiate with potential buyers, which can include considering seller concessions, closing cost assistance or other incentives
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Timing and patience: Understand that selling in a down market may take longer, so be patient and willing to adapt your strategy as needed
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Consider alternative selling options: Explore alternatives like selling to investors, rent-to-own arrangements, renting as an Airbnb or timing your sale strategically to maximize potential returns
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
