Florida Home Prices Post Biggest Decline in at Least 13 Years

Florida’s housing boom has now shifted into reverse, with prices sliding by the most in at least 13 years.

The median price for all types of homes fell 1.7% in March from a year earlier, according to Redfin Corp. data going back to 2012.

The post-pandemic influx of out-of-state buyers has faded, pressuring demand. Home sales have fallen. Inventory is now at a record high in the data going back to 2012. Rising insurance costs and high mortgage rates have strained affordability.

The state’s condo market has also been buckling under soaring costs and new requirements for the upkeep of ...