Florida Housing Market Faces 2025 Struggles [Video]

Florida’s housing market is likely to face steep price declines in 2025, according to experts, as what was once among the hottest states in the nation has become a tricky place to buy and sell a home.

Nick Gerli, the CEO of the real estate data platform Reventure App, told ResiClub, a media and research company that analyzes the U.S. housing market, that home values in certain Florida markets could drop by as much as 10 percent throughout 2025, as growing inventory meets dwindling demand—and the state’s homeowners insurance market remains in shambles.

While a booming market such as Miami is expected to continue thriving next year, cities such as Tampa, St. Petersburg, Sarasota, Punta Gorda and Naples are likely to experience steep declines, Gerli forecast.

Newsweek contacted Gerli for further comment by email on Monday outside normal business hours.

Why It Matters

Housing affordability has been strained across the U.S. in the past …