Florida home sales rise slightly in third quarter

Audio By Carbonatix

(The Center Square) – Higher mortgage rates weighed on the housing market during the third quarter of 2026, according to the latest data released Friday.

The Q3 report by Florida Realtors showed sales for existing single-family homes inching up 0.2% and condo-townhouse sales rising 3.1% year-over-year. It also painted a picture of tighter housing inventory compared to a year ago.

“The fluctuation in rates over the last two years has not been significant by historical standards but given that the home sales growth we experienced over the past 12 to 14 months was rather modest, the rise in interest rates that’s occurred so far this year has been enough to put a halt to this growth,” said Florida Realtors chief economist Brad O’Connor. “So, we now find ourselves with a second straight month of declining year-over-year sales. It’s not a major shift in the sales trend by any stretch, but whenever you go from positive to negative growth, there is a potential psychological impact.”

The median price in Florida for a single-family existing home during the month of September was $415,000 – a 1.2% increase from a year ago. The median price for condo-townhouse units was $293,500, down 1.8%.

While high mortgage rates dampened sales specifically in the single-family market, O’Connor said inventory and prices remain “relatively stable” and that the higher end of the market continues to perform “quite well.”

“It’s important to consider that the overall trend for home sales is not overwhelmingly different from what it was earlier this year. Still, the gap between where mortgage rates are right now and where they were a year ago is not doing the housing market any favors,” O’Connor said.

Closed sales of existing single-family homes were down by 3.5% last month and condo-townhouse sales were down 0.1%. September saw a total of 20,537 closed sales of existing single-family homes and 7,179 closed sales of condo-townhouses.

“Florida’s housing market continues to move at a more measured pace, with encouraging signs of stability heading into the final months of the year,” said Florida Realtors President Chuck Bonfiglio.

Throughout the third quarter of the year, Florida saw 65,904 single-family home sales, up by 0.2% and 22,664 condo-townhouse sales, up by 3.1% year-over-year, the report found.

A positive note for sellers is homes moved through the market faster in Q3 than they did a year ago.

“As we head into the final quarter of 2026, the story remains one of a housing market that has lost some momentum, but certainly hasn’t fallen apart,” O’Connor said.