Florida home sales dropped in September as mortgage rate pressures mounted

Florida statewide single family home closings fell 3.5 percent year over year in September, MPA Magazine reported, citing data from Florida Realtors. The drop marked the second consecutive month of annual declines as mortgage rates reversed previous gains. [1]

Despite the late quarter slowdown, third quarter single family home sales across Florida reached 65,904 transactions, representing a 0.2 percent annual increase. The condo and townhouse sector performed stronger over the quarter, with closings rising 3.1 percent year over year to 22,664 units sold. [1]

The market slowdown comes as borrowing costs remain elevated. As FTMQ Real Estate reported earlier, average 30 year fixed mortgage rates stood at 7.40 percent as of October 8, while 15 year fixed rates averaged 6.73 percent. [1][4]

Florida maintained a gross domestic product of 1.83 trillion dollars in 2025, placing it fourth among all American states. The state features the longest coastline in the contiguous United States, stretching approximately 1,350 miles across low lying plains. [3]