• Florida’s once-booming pandemic-era housing market has cooled sharply, leaving many homeowners struggling to sell.
• In South Florida, inventory has surged and prices have dipped as rising interest rates choke affordability.
• Sellers like Brian Delahunty and Carol Delahunty are facing months-long waits in a market no longer favoring them.

HUTCHINSON ISLAND, FL (TDR) — In the early months of 2020, Florida’s sandy shores became an escape hatch for Americans weary of COVID-19 lockdowns. With states shuttering public spaces, the Sunshine State’s open beaches and mild climate drew thousands seeking a more relaxed lifestyle. For many, it wasn’t just a vacation — it was a permanent move.

Among those who joined the migration were Brian Delahunty and Carol Delahunty, who left Long Island, New York, for Hutchinson Island late that year. Back then, Florida’s real estate market was a seller’s dream, fueled by pandemic demand and limited supply.

“When we moved here, it was like, well, if you like this, you better make a deal today because it will be gone tomorrow,” Brian told WPTV.

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But less than five years later, the tide has turned. Florida’s housing market has cooled dramatically, and the Delahuntys are finding that selling their beachfront home ahead of a planned move to Fort Pierce is proving far more difficult than buying it ever was.

From Pandemic Surge to Post-Boom Slowdown

Once marked by bidding wars and rapid sales, Florida’s market is now grappling with a glut of available homes. According to Redfin, prices in June 2025 were down 2.2% year over year, with the steepest declines concentrated in South Florida.

Palm Beach County, where the Delahuntys live, leads the state with over 13,000 active listings — more than double the inventory of nearby Indian River or St. Lucie counties. Other counties like Martin and Okeechobee have significantly fewer homes on the market, underscoring the imbalance.

“Our realtor warned us the market was a little saturated and condos aren’t selling as quickly,” Carol said.

The slowdown is also evident in Miami-Dade County, where the Miami Association of Realtors reported a 20.2% year-over-year drop in total home sales for May 2025. Condo sales there are down 25%, reflecting a broader decline in demand.

Interest Rates and Affordability Pressures

For Joe Tumolo, the Delahuntys’ realtor, the cause of the downturn is clear: high interest rates.

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“A 3% interest rate versus a 7% interest rate is a big difference when it comes to monthly payments,” he told WPTV. “Affordability is a real issue — interest rates, property taxes, insurance — they all add up, and wages just haven’t kept pace.”

This affordability crunch has made it harder for buyers to enter the market, creating a buyer’s advantage that was absent during the pandemic boom.

Selling Strategies in a Down Market

Experts say that while downturns can be challenging, they don’t make selling impossible. The key is adapting to new market realities:

• Price competitively: Use comparative market analysis to set a realistic price.
• Improve presentation: Invest in cost-effective upgrades and staging to make your home stand out.
• Choose an experienced agent: Partner with a realtor who understands local trends and has a track record in slow markets.
• Market aggressively: Use virtual tours and targeted online advertising to reach buyers.
• Stay flexible in negotiations: Offer seller concessions or closing cost assistance if needed.
• Have patience: Be prepared for longer timelines and adapt strategies as the market shifts.
• Consider alternatives: Explore rent-to-own options, selling to investors, or renting as an Airbnb until the market improves.

Will Florida’s Slump Spread?

According to Chen Zhao of Redfin, South Florida is the “epicenter” of U.S. housing weakness, raising the question of whether the rest of the nation could follow. “Florida is uniquely bad right now,” Zhao said in comments reported by Newsweek.

For the Delahuntys, the focus remains on finding the right buyer — even if it means weathering months of uncertainty.

Is Florida’s housing slump a local correction, or the first warning sign of a broader national downturn?

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