Existing-home sales declined during the month of January, dropping 8.4% month-over-month to a seasonally adjusted annual rate of 3.91 million units.
Key National Highlights:
- Median home price climbed to $396,800, up 0.9% year-over-year — marking 31 consecutive months of annual price increases.
- Single-family homes saw prices rose 0.6% to $400,300; condo/townhome prices increased 3.8% to $364,600.
- Inventory increased 3.4% year-over-year to 1.22 million homes, equivalent to a 3.7-month supply at the current sales pace.
- Days on market extended to 46 days (vs. 41 days last January), signaling buyers are shopping more deliberately.
- Investors and second-home buyers accounted for 16% of purchases.
- Distressed sales (foreclosures and short sales) remained negligible at just 2% of transactions.
Bottom line: Existing-home sales show a notable decline in sales activity across all regions compared to both the prior month and the previous year, likely influenced by unusually harsh winter weather, while home prices continued to rise to new January highs amid persistently low inventory that constrains the market.
The Florida Housing Market
Florida’s housing market started 2026 on an encouraging note with year over year gains in closed sales for both single family homes and condo townhouse units, rising new pending sales for the sixth consecutive month indicating steady buyer interest, and new listings hitting record January levels since tracking began in 2008.
This uptick in inventory is giving buyers more choices and contributing to better affordability conditions, even as median prices saw a modest year-over-year dip, signaling a stronger and more balanced market, though it’s still early to forecast the full year’s performance.
Statewide, existing-home closed sales increased 6.2% year-over-year with the median-sale price declining by 1.5%.
Closed Sales
In January, Florida’s existing-home market showed modest resilience with 23,509 statewide closed sales, reflecting a year-over-year uptick fueled by gains in both single-family homes (up 5.9%) and condo-townhouse units (up 5.1%). Although overall activity stayed below the 2025 highs, the usual seasonal dip was less pronounced than in prior years, underscoring sustained buyer demand as mortgage rates eased.
The luxury segment remained a standout performer, with properties priced at $1 million and above experiencing robust demand (up 21.5% year-over-year) and driving continued strength in the state’s premium markets.
Median Sales Prices
Florida’s median home price has shown impressive stability since mid-2023, remaining within a narrow band despite shifting mortgage rates and typical seasonal patterns.
In January 2026, the statewide median experienced a modest year-over-year decline to $371,490, the 14th straight month of softening, driven by the ongoing influx of new inventory that has strengthened buyers’ negotiating position and moderated the rapid price appreciation seen in earlier years.
At the high end, homes priced at $1 million and above posted a slight 1.3% year-over-year gain, underscoring how increased supply and a more deliberate sales pace are promoting greater equilibrium across Florida’s housing market segments.
Active Inventory
Florida’s active housing inventory peaked above 200,000 listings in spring 2025 before trending downward through much of the year. In January 2026, however, it reversed course with a substantial month-over-month increase, rising by nearly 20,000 units to reach 191,215 active listings.
Luxury inventory (properties priced over $1 million) is also approaching recent highs, climbing 6.2% to 27,760 units and reflecting continued strength in the high-end segment.
This recent uptick in overall and luxury listings points to growing supply that could ease pressure on buyers while supporting a more balanced market dynamic moving forward.
The South Florida Housing Market
In January 2026, South Florida’s tri-county housing market (Miami-Dade, Broward, and Palm Beach counties) showed encouraging signs of momentum, with gains in closed sales, total dollar volume, median sale prices, and new listings.
Closed sales across the region rose 2.8 percent year over year, driving dollar volume up 13 percent to $4.5 billion, while the median price for all property types climbed moderately to $510,000.
Active inventory remained essentially stable, edging up just 0.1 percent from the prior January to 48,001 listings, suggesting a market that continues to balance supply with resilient buyer demand.
The Greater Orlando Housing Market
As of January 2026, Orlando’s housing market exhibited relative stability, aligning with broader Florida trends of gradual adjustment toward greater balance between supply and demand.
Existing-home sales experienced a minor year-over-year dip of 0.7 percent, totaling 2,284 closings, while total dollar volume fell 6.7 percent to approximately $113 billion, reflecting a combination of slightly softer prices and a measured pace of transactions. The median sales price eased modestly to $395,000, consistent with statewide patterns of stabilization after years of sharper gains.
Inventory continued its gradual expansion, increasing 2.1 percent from the previous January, providing buyers with incrementally more options and enhanced negotiating power. Meanwhile, new listings showed a slight 0.7 percent decline, suggesting sellers remain somewhat cautious despite the overall uptick in available homes.
The Tampa Bay Housing Market
In January 2026, the Tampa-St. Petersburg-Clearwater metro area displayed a mixed performance characteristic of Florida’s evolving housing landscape, with closed sales declining 7.1 percent year-over-year while total dollar volume rose 5.9 percent, suggesting a shift toward higher-value transactions despite fewer overall closings.
The median price across all property types edged up 1.1 percent to $359,000, remaining noticeably below the recent peak of around $390,000 and reflecting ongoing price stabilization amid broader market adjustments.
Inventory levels continued to grow meaningfully, increasing 6.9 percent from the previous January to 21,173 active listings, which is providing buyers with expanded choices and greater leverage in negotiations. At the same time, new listings dipped 1.7 percent, indicating that some sellers are adopting a more cautious approach as market conditions become more balanced and less urgently seller-favored.
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