Florida's housing market is expected to see significant price declines in 2025, with certain areas like Tampa, St. Petersburg, and Sarasota potentially dropping by up to 10%. This downturn is attributed to rising inventory and decreasing demand, compounded by issues in the homeowners insurance market. While Miami may continue to thrive, other regions face challenges due to increased premiums and a slowdown in migration. Analysts warn that some areas could experience price drops of up to 15%, raising concerns about a potential housing crash.
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