Multimillion-dollar home and condo sales posted sharp gains statewide in Q1 2026, with luxury condo sales above $1M climbing 41% year over year and ultra-high-end single-family sales up more than 31%.

Buyers in the South are putting less money down than their counterparts in other parts of the country, a trend that reflects affordability pressures and shifting financing strategies across the region.

Mortgage rates have risen to their highest level in nine months, adding fresh pressure on buyers already stretched by elevated home prices and renewed uncertainty in the broader economy.

Florida's housing market is showing signs of a key turning point heading into summer, with inventory, pricing and buyer demand all shifting in ways that could define the second half of 2026.