Investor purchases of Florida condos hit a 14-year low, with cities like Orlando, Tampa, and Miami seeing double-digit drops. What’s driving the downturn, and what does the future hold?
Fla. News Network — Florida’s once-booming condo market is bleeding investors. Purchases by buyers scooping up units as investments—not homes—have nosedived to levels not seen since the aftermath of the 2008 housing crash. In Orlando, investor condo sales tanked by 30% this year. According to Redfin, Tampa and Miami followed close behind with drops of 26.1% and 22.9%, respectively. Even traditional home and townhome sales are wobbling, though less dramatically (down 6.1% and 1.6%). But the real story? South Florida’s condo market is drowning in 19,000 active listings, 86% of which are older buildings. Prices have cratered by 21% in 2024 alone.…