Reported about 1 month ago
Florida's condo market shows signs of instability as prices drop for the first time since 2020, amid rising insurance costs and new regulations following the Surfside building collapse. With inventory surging by over 90% from last year, potential buyers are hesitant, waiting for lower mortgage rates. Although experts predict no major crash akin to the early 2000s, the challenges could deter many, as increased maintenance costs and assessments weigh heavily on condo owners.
Source: YAHOO