Florida real estate flashes warning signs with 1 in 7 US homes for sale in the state and widespread price cuts.

1 in 7 US homes for sale sits in Florida despite only 8 percent of national housing stock.

45 percent of Florida listings took price cuts.

This rate runs 6.6 points above national average.

1 in 10 homes sell below what original owner paid.

National data shows home prices falling at record pace.

Typical for-sale home now spends 53 days on market same as year earlier.

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