According to the National Association of Realtors, existing-home sales decreased 2.0% month-over-month in August to a seasonally adjusted annual rate of 3.98 million units, and they were 1.2% lower than a year ago.

Key National Highlights:

Median home price was $429,100, up 1.6% year-over-year, marking the 38th consecutive month of annual price increases.
Single-family homes saw prices rise 1.7% to $434,800; condo/co-op prices increased 1.5% to $371,600.
Inventory rose 3.2% from July (and 5.9% year-over-year) to 1.62 million homes, lifting supply to 4.9 months, the highest level in more than a decade.
Days on market extended to 31 days (vs. 29 days in July and 31 days in August 2025).
Investors and second-home buyers accounted for 15% of purchases.
Distressed sales (foreclosures and short sales) remained negligible at just 2% of all transactions.

Bottom line: The national housing market softened further in August 2026 as sales slipped below a 4.0 million annual pace for the first time since June 2025. Rising inventory is giving buyers more room to negotiate, even as prices continue a multi-year climb.

The Florida Housing Market

Florida’s housing market appeared to level off in August after nearly a year of steadily improving sales. Activity eased as buyers and sellers adjusted to a higher mortgage-rate environment than a year earlier, ending several long year-over-year growth streak in closed sales. Economists noted that those earlier gains had already been narrowing, and that the recent rise in rates was enough to slow momentum on the margin.

Despite the milder sales pace, conditions remain relatively stable rather than deteriorating. Tightening supply is helping keep prices largely intact, and local markets continue to move at different speeds, which is why pricing, timing, and neighborhood-level knowledge still matter.

Looking ahead, the outlook is one of modest continuity rather than a sharp turn. There is some evidence that in-migration is beginning to pick back up, and more fence-sitters appear to be accepting that the market is unlikely to snap back to the conditions of 2021.

Closed Sales

Existing single-family homes accounted for 21,497 closings statewide in August, down 1.4% from a year earlier. Existing condo and townhouse closings totaled 7,291, down 1.8%.

Because closings often follow contracts written 30 to 90 or more days earlier, August’s totals reflect decisions made through the summer as much as activity in the month itself. Both property types moved lower together, leaving overall transaction volume slightly behind last August’s pace.

Luxury sales still rose 6.7% from a year earlier, but this was the first time in eight months that growth was below double digits.

Median Sales Prices

Single family and condo medians rose, while the blended median slipped slightly. The statewide median sales price for existing single-family homes was $415,000, up 1.2% from a year earlier and the sixth consecutive month of annual gains. The median for existing condos and townhouses was $298,000, up 2.8% from August 2025.

It should be noted that across all property types, the August 2026 median price declined to $376,000, down 0.3% year-over-year.

Tightening supply is helping keep values intact despite a more challenging rate environment, so the market remains one in which well-priced homes can still support firm pricing.

Active Inventory

Available supply continued to tighten. Existing single-family inventory was down 13% from a year earlier and stood at a 4.3-month supply; condo and townhouse inventory fell 11.5%. Single-family stock is also below levels from two years ago.

That leaner listing environment is a key reason prices have held up, even as local conditions still vary widely from one Florida market to another.

The South Florida Housing Market

In the Miami, Fort Lauderdale and West Palm Beach metro, August 2026 closed sales of all property types totaled 5,576. That figure was 3.2 percent lower than a year earlier. New pending sales also eased, falling 1.6 percent to 6,221. Even so, dollar volume rose 7.0 percent to $4.6 billion. The increase was supported by a higher median sale price of $515,000, which was up 5.1 percent from August 2025.

Supply continued to tighten across the region. Active inventory dropped 16 percent from a year earlier to 39,944 homes. New listings slipped 0.7 percent to 9,087. Fewer listings and a thinner stock of homes for sale help explain why prices and overall sales dollars held up even as transaction counts cooled modestly.

The Greater Orlando Housing Market

In the Orlando, Kissimmee and Sanford metro, August 2026 closed sales of all property types totaled 3,232. That was 0.1 percent higher than a year earlier. New pending sales were unchanged at 3,323. Dollar volume slipped 1.6 percent to $1.6 billion. The median sale price was $399,770, down 0.1 percent from August 2025.

Supply tightened modestly even as more homes came to market. Active inventory fell 4.0 percent from a year earlier to 15,323 homes. New listings rose 3.5 percent to 4,390. The result was a relatively steady month for transactions and pricing, with slightly fewer homes available for sale than last August.

The Tampa Bay Housing Market

In the Tampa, St. Petersburg and Clearwater metro, August 2026 closed sales of all property types totaled 4,251. That was 6.6 percent lower than a year earlier. New pending sales fell 7.2 percent to 4,292. Dollar volume declined 8.0 percent to $2.0 billion. The median sale price was $371,000, up 0.3 percent from August 2025.

Fewer homes were available and fewer came to market. Active inventory dropped 7.8 percent from a year earlier to 20,000 homes. New listings slipped 2.1 percent to 5,652. Pricing held nearly even with last year even as sales activity and total dollar volume moved lower.

Partner With South Florida’s Trusted Real Estate Advisors

In today’s Florida housing market, incoming demand, shifting preferences, and ongoing redevelopment make timing and expertise essential.

Whether you are buying or selling, now is the time to work with Quantum Realty Advisors, Inc. We specialize in trust, estate-owned, and luxury residential transactions, and that focus helps us deliver strong results even in complex situations. In a fragmented market, we have consistently secured excellent outcomes for our clients.

Our knowledge of the local market and our record of selling hundreds of residential and commercial properties across South Florida and most major markets nationwide allow us to maximize results. Whether the property is a high end estate, a waterfront home, or an investment asset, we build a strategy around current conditions and your goals.

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