“Fortunately, in South Florida, the market remains active, with many people continuing to buy and sell homes,” said Jessica Baskies, a real estate agent with EXP Realty in Palm Beach County. “Even with headlines warning of a ‘big dip’ or ‘market crashes,’ we see fluctuations like this frequently in this area.”
This year’s hurricane season has been particularly challenging. Hurricane Helene struck northwestern Florida on September 26, marking the deadliest storm in two decades. Just two weeks later, Hurricane Milton hit Central Florida, adding further difficulties for homeowners in the region.
Additionally, realtors note that August through October is historically a slower period for real estate. According to Baskies, this is due to families having already moved during the summer, children returning to school, and snowbirds not yet arriving in the area.
Despite the recent slowdown, Baskies remains optimistic.
“Headlines often don’t fully align with the market’s realities,” Baskies explained. “When you look closely at the data and follow the market daily, you see a variety of factors at play. There’s always activity in the market, and South Florida continues to attract waves of new residents. I recently read that Florida remains the fifth most popular state for relocation, even with rising home prices and insurance costs.”
The sales decline has primarily impacted the condo market, which faces added pressures from higher HOA fees and new special assessment charges under updated state regulations.
While the housing market’s future is uncertain, Baskies anticipates an upward trend in sales as the election season wraps up and snowbirds begin returning to the region.
