Florida housing market worsens: Port Richey listings up 248% YoY, builders abandoning projects.

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The Florida housing market has been experiencing notable shifts. While the overall state-level home prices have been steadily growing, there are specific areas where inventory has surged dramatically. For instance, in ZIP codes like Port Richey, located north of Tampa, listings have nearly tripled compared to last year, with a staggering 248% growth in listings year-on-year. This surge in inventory can indeed be a sign of a major selloff, which may impact prices in the second half of 2024.

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The Florida Housing Market downturn continues to get worse in 2024, with home builders now being forced to abandon projects before completion.

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