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Florida housing market ‘at risk’ in 13 different cities

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Florida housing market ‘at risk’ in 13 different cities


Thirteen out of the 15 housing markets at the highest risk of a home price correction in the coming months, according to a recent Parcl Labs study, are in Florida, where new inventory has been flooding in.

The Parcl Labs’ team, which delivers real-time housing market data, analytics and research, analyzed around 1,000 U.S. housing markets to identify early signs of market stress that could lead to price drops. It found that there’s “trouble” ahead for the Sunshine State, which it described as “the epicenter” of a mismatch between supply and demand.

The top five list of markets with the biggest supply and demand divergence—one of the factors considered in Parcl Labs’ analysis, are in Florida—namely, Pensacola (+52 percent supply increase, -28 percent demand decrease); North Port, FL (+50 percent, -18 percent); Naples (+44 percent, -14 percent); Port St. Lucie (+40 percent, -22 percent); and Palm Bay (+39 percent, -18 percent).

Four of the top five markets expected to see the biggest price drops in the months ahead—though any decline isn’t guaranteed—are also in the state. These include some of the same metropolitan areas which are seeing demand drop, such as North Port (52 percent of listings with price cuts); Tampa (49 percent); Naples (46 percent); and Palm Bay (44 percent). Myrtle Beach, South Carolina, was also in the top five with an expected 46 percent with price cuts.

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Homes are shown in a residential neighborhood in Miami on May 10, 2022. Florida is “the epicenter” of a mismatch between supply and demand, according to a recent study.

Joe Raedle/Getty Images

Several markets in Florida have already seen dramatic price cuts since the beginning of the pandemic in 2020, which saw the U.S. housing market boom as low mortgage rates, high demand and a lack of supply led aspiring home buyers to cutthroat bidding wars.

In Florida, the widespread possibility of remote work led to an influx of people moving from out of state chasing warm weather, sunny skies and cheaper taxes. The end of the health emergency and businesses’ eagerness to get their workers back in the office meant a sudden slowdown in arrivals, as well as the departure of some of those who had already migrated to the Sunshine State.

In Lakeland, according to Parcl Labs’ data, prices are now -4.63 percent from their peak in 2020. They increased by 51.36 percent in 2020. In Sebastian, they’re down -4.14 percent from their peak of +61.43 ; in Gainesville, by 2.28% from +50.21 percent. Deltona, Homosassa Springs, Tampa, Ocala, Port St. Lucie, Miami and Orlando have also seen prices cool down from their pandemic peaks.

Inventory has been growing at a faster pace in the state than in the rest of the country. Florida, together with Texas, is among the states that has been building the most new homes in the past few years, trying to fill the gap between demand and inventory which marked the pandemic. But now, as mortgage rates remain high and home insurance premiums in the Sunshine State inflate, buyers are a little more reluctant.

Newsweek contacted Parcl Labs for comment by email early on Monday.

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The 15 metropolitan areas which are most likely to see home price drops, according to Parcl Labs, are:

  • Crestview-Fort Walton Beach-Destin, Florida;
  • Daphne-Fairhope-Foley, Alabama;
  • Deltona-Daytona Beach-Ormond Beach, Florida;
  • Gainesville, Florida;
  • Homosassa Springs, Florida;
  • Lakeland-Winter Haven, Florida;
  • Miami-Fort Lauderdale-Pompano Beach, Florida;
  • Myrtle Beach-Conway-North Myrtle Beach, South Carolina;
  • Naples-Marco Island, Florida;
  • Ocala, Florida;
  • Orlando-Kissimmee-Sanford, Florida;
  • Palm Bay-Melbourne-Titusville, Florida;
  • Port St. Lucie, Florida;
  • Sebastian-Vero Beach, Florida;
  • Tampa-St. Petersburg-Clearwater, Florida.

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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.



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South Florida leaders take preventative safety measures after the U.S. and Israel’s attack on Iran

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South Florida leaders take preventative safety measures after the U.S. and Israel’s attack on Iran


South Florida leaders are taking preventative measures to keep residents safe after the U.S. and Israel launched major strikes on Iran early Saturday morning.

Miami-Dade County mayor Daniella-Levine Cava issued a statement reacting to the military operation that President Trump dubbed on Truth Social as “Operation Epic Fury.”

The statement reads: “The escalating conflict between the United States, Israel, and Iran poses serious risks to regional stability and international safety.”

She goes on to say that her thoughts are “with the people of Israel and the Jewish community here in South Florida who are watching these events with worry and uncertainty.” She also says the Iranian people “deserve peace, safety, dignity, and the freedom to live without repression.”

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Of the Trump administration’s decision to launch the military operation, Levine-Cava writes: “Any military action taken without congressional authorization is a dangerous precedent, and we must learn from our nation’s past challenges. What must come next is a serious effort to restore stability and pursue diplomacy, not further violence.”

As for measures she will be taking, she says she asked her Chief of Public Safety to “ensure public safety agencies are aware and ready to activate plans in case of any disruption.”

The Miami-Dade Sheriff Rosie Cordero-Stutz also issued a statement saying that MDSO is “taking immediate security measures by increasing patrols to ensure the safety of our residents.” She said that they have increased security presence around places of worship, cultural centers, and schools. 

“Our thoughts and prayers are with the servicemen and women protecting our national security interests around the globe,” Cordero-Stutz wrote. 

Aventura Police have also responded to the current situation on X, saying that they are monitoring the “current situation in the Middle East with our local, state, and federal partners.”

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@aventurapoliceis monitoring the current situation in the Middle East with our local, state and federal partners. At this time there are no known or credible threats to the US or Miami-Dade County. In an abundance of caution, we have implemented a heightened security posture with directed patrols at our religious facilities and other sensitive locations throughout @cityofaventuraWe will continue to monitor and report any suspicious behavior.https://x.com/aventurapolice/status/2027787245164335222/photo/1

X/Aventura Police


They go on to say: “At this time, there are no known or credible threats to the U.S. or Miami-Dade County.” However, they note that in “an abundance of caution,” they will be increasing security in religious facilities and other locations they deem as “sensitive” throughout the city.

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The City of Miami Beach also posted its statement to X, saying it is also “closely monitoring the ongoing conflict in the Middle East.” They also note that at this time, there are no known credible threats to the city.

They write: “Out of an abundance of caution, we have increased our uniformed presence at synagogues, schools, and other key locations citywide. We remain in close coordination with our law enforcement partners and leaders within the faith-based community.”

screenshot-2026-02-28-at-2-07-36-pm.png

Miami Beach Police Department Increases Patrols Ahead of Purim Amid Ongoing Middle East Conflicthttps://x.com/MiamiBeachPD/status/2027752171173773807/photo/1

X/Miami Beach Police


They also urge residents to report any “suspicious or unlawful activity” to call their non-emergency number at 305-673-7901 or, if it is an emergency, call 911. 

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Other cities’ police departments, such as Bal Harbour, Sunny Isles Beach, and Hallendale Beach, posted on their social media that they will also increase security measures after the U.S.-Israel strikes on Iran. 



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Golf roundup: Austin Smotherman plays ‘boring, simple’ to expand lead in Florida

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Golf roundup: Austin Smotherman plays ‘boring, simple’ to expand lead in Florida


Austin Smotherman will carry a three-stroke lead into the weekend at the Cognizant Classic at The Palm Beaches.

Smotherman followed his opening 62 with a 2-under-par 69 on Friday at PGA National’s Champion Course in Palm Beach Gardens, Fla. That brought him to 11 under, comfortably clear of Taylor Moore, who is in second after his second straight 4-under 67.

Cognizant Classic scoreboard

“Yeah, leading a PGA Tour event, come on, pretty awesome,” Smotherman said.

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Smotherman, 31, is in fine position for his first win on the PGA Tour since turning pro a decade ago. He has won three times on the Korn Ferry Tour, including last June.

Afterwards, he credited himself with playing “Austin Smotherman golf.” When asked what that meant, he responded, “as boring and simple as it can be.

“That’s what I want to do out there. I feel like I ball strike it good enough to have that kind of boring golf, a bunch of fairways ideally,” he said.

He suffered three bogeys Friday after a bogey-free opening round, but the key stretch for him after starting on the back nine was between Nos. 17 and 3. He birdied four holes in that stretch, starting with a 54-foot bomb at the par-3 17th hole.

“Anything under par I thought would have been (good) following up a round like yesterday, which was a special one,” he said, “and try not to get too far ahead of myself thinking I’m going to make every long putt I’m looking at, like kind of was the feeling yesterday, and then today I still make a 55-footer on 17.”

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Moore overcame a bogey in each half of his round with three birdies on either nine, more than counterbalancing the rough patches to earn his second straight solid score.

“I think very different 67s,” Moore said when comparing his rounds. “I didn’t hit many fairways yesterday, kind of grinded a lot, had a couple chip-ins, which obviously helps. I thought I struck the ball much better today. Drove it in the fairways on the par-5s, I felt like. Yeah, still had a few up-and- downs, obviously, with the tough windy conditions this afternoon, but overall I thought it was solid.”

Canadian A.J. Ewart had the round of the day, a 64 that powered him to 7 under for the week. He’s tied with Colombia’s Nico Echavarria (72), and Joel Dahmen is in fifth at 6 under after a second consecutive 68.

Ewart, who played for nearby Barry University in college, came in with some familiarity.

“We used to come and watch this tournament when I was at school. I think I came up here twice, maybe three times and watched,” Ewart said. “I had never actually played the golf course, but I felt like I knew it just from watching it.”

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Irishman Shane Lowry, one of the most recognizable players in the field, is in a large knot for sixth at 5 under after posting a 67. Defending champion Joe Highsmith made the cut on the number at even par.

Notable players who missed the cut included Webb Simpson (1 over), Gary Woodland (2 over), Matt Kuchar (2 over) and Canada’s Adam Hadwin (3 over).

Kim maintains narrow lead in Singapore

Auston Kim maintained a narrow lead over three seasoned competitors with a 3-under-par 69 on Friday at the HSBC Women’s World Championship in Singapore.

Kim carded five birdies and a double-bogey at the par-5 16th hole at Sentosa Golf Club to move to 9-under par, one shot ahead of major champions Minjee Lee of Australia (64 on Friday) and Thailand’s Ariya Jutanugarn (67) and three- time LPGA Tour winner Haeran Ryu of South Korea (68).

Lurking two shots back at 7-under in the no-cut event are Australia’s Hannah Green (66), Denmark’s Nanna Koerstz Madsen (68), Sweden’s Linn Grant (69) and England’s Mimi Rhodes (69).

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Kim, an LPGA Tour member since 2024, has been knocking on the door of her first tour win. The American has eight finishes in the top 10 and was the runner-up at the KPMG Women’s PGA Championship last season.

“I think just sticking to my process. I’m trying to earn each shot and win each shot and win each day,” Kim, 25, said of her strategy heading into the weekend. “I can put a hundred percent of my focus into every single shot and try my best to execute each time, I’ll do well.”

Lee soared into contention with an eagle at the par-4 second hole and six birdies in a bogey-free round.

“I think just I holed a few more putts out there,” Lee said of the difference between Friday’s play and her opening-round of 72. “I holed a few long ones and I also holed out for eagle on the second. That always helps the score.”

Jutanugarn had six birdies, including three straight from holes Nos. 5-7, and one bogey.

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Ryu collected four birdies in a round free of bogeys, but not free from pain.

“Today, my neck was so bad and I cannot turn it around, it’s so hard, my neck,” Ryu said. “But yeah, golf is not perfect. I just think about it, just hit the fairway and the green. Yeah, that’s good for me. There’s a lot of birdies, and yeah, I’m so happy.”

Angel Yin matched Lee for the low round of the day with a 64 to move into a tie for ninth at 6-under.

Defending champion Lydia Ko of New Zealand (72) remained a 2-under posting four birdies and four bogeys.

World No. 1 Jeeno Thitikul of Thailand is tied for 33rd at 1-under after a round of 70.

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FuelFest kicks off at South Florida Fairgrounds this weekend

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FuelFest kicks off at South Florida Fairgrounds this weekend


One of the hottest car shows in South Florida kicks off this weekend at the South Florida Fairgrounds. FuelFest Founder Cody Walker and actor and singer Tyrese Gibson joined CBS News Miami on Friday morning to break down what you can expect to see at the popular event.



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