Florida’s Housing Market has hit an inflection point in 2024. Where inventory and new listings are surging, in part due to a big selloff from Airbnb investors happening in cities like Orlando, Tampa, and Miami.
These Airbnb investors bought in Florida’s real estate market during the bubble in 2021 and 2022. But now many are losing money and being forced to sell. Which is causing inventory levels to skyrocket.
Inventory of homes for sale is up 57% YoY in Florida and up 400% from their lows two years ago during the peak of the pandemic bubble. Such a rapid increase in inventory means that home prices in Florida are becoming more likely to decline. Especially given their high levels of overvaluation.
One area where inventory has really surged, especially due to Airbnb investors selling, is Osceola County. Which is south of Orlando. Inventory of homes for sale in Osceola County is way up from their long-term norms. And signals that the market has entered a downturn.