Tariffs cloud Florida’s housing market with rising costs and uncertainty

Homebuilders are bracing for the next wave of pricing pressures in the housing market as new federal tariffs ripple through supply chains. According to the Florida Tariff Impact Report from Florida TaxWatch, construction costs in the state are expected to increase by more than $3 billion, with the price of a typical new home build rising by roughly $10,000. For builders, the impact is visible but uneven. [Source: Sarasota Magazine]

Spike in Florida condo supply is creating a buyers’ market

Five years after the Covid-19 pandemic sent condo prices skyrocketing in Florida, the market is now lagging as new building regulations drive up costs and foreign buyers stay away. After the tragic 2021 collapse of the Champlain Towers South complex in Surfside, Fla., which killed 98 people, the Florida legislature mandated inspections for condo buildings 30 years and older. As a result, owners are facing hefty renovation bills, forcing many to put their units up for sale, flooding the market. [Source: New York Times]

Florida Trend Exclusive
Brick by brick

How do you amass the money to buy a $25.5-million estate in Wellington in Palm Beach County? Plastic brick-by-plastic brick in the case of Lego chairman and Danish billionaire Thomas Kirk Kristiansen, who, with his wife, Signe, a competitive equestrian rider, acquired a 7,086-sq.-ft. house and grounds with 27 horse stalls. [Source: Florida Trend]

From robo-dogs to 360-degree cameras: How AI is reshaping what's being built in Florida

From robots that map out blueprints overnight, to a four-legged “robo-dog” that walks job sites with a 360-degree camera, artificial intelligence is transforming what’s being built in South Florida. Suffolk Construction, one of the nation’s largest building contractors, has integrated AI tools and robotics into every project nationwide — including nine projects currently underway in South Florida. The goal, company leaders say, isn’t to replace workers but to make the industry more efficient and ready for the future. [Source: NBC Miami]

This Florida city has the best real estate market in the state, study says

WalletHub has released its 2025 report on the best real estate markets in the nation, revealing which Florida city is top ranked. According to the study, the housing market has been much more balanced than in prior years, with home values having risen by around 0.3% on average. To determine the ranking, the study looks at factors like days that homes were on the market, home value forecasts, vacancy rates, housing affordability, and more. [Source: Click Orlando]

STAT OF THE WEEK
$50 million
The Florida Hometown Heroes Housing Program gives first-time homebuyers who serve their communities a chance to receive down payment and closing cost assistance. The program’s funding has been reduced this year to $50 million compared to nearly $100 million last year. [Source: News 4 Jax]

ALSO TRENDING:

› Naples area housing market shows resilience as demand holds steady [Gulfshore Business]
Naples’ real estate market held its ground in July, with a nearly 20% jump in pending sales and signs that buyer confidence remains strong despite softening prices and a slower pace of new listings. Naples Area Board of Realtors reported 807 pending sales last month, up from 673 in July 2024. Analysts said the increase reflects the region’s enduring appeal, particularly among cash buyers, who made up nearly half of all July transactions.

› Affordable housing takes shape at Overtown's Atlantic Square [NBC Miami]
In the heart of Miami, where Overtown’s rich cultural legacy meets the pulse of a growing city, a new chapter is taking shape. It’s one that aims to bridge the divide carved decades ago by Interstate 95. After decades of disinvestment on the west side of the highway, developers and community leaders are building momentum on both sides.

› Pinellas ZIP code among top five nationally in 'zombie' foreclosure rate [Business Observer]
National home vacancy rates have remained steady for the past three years, but according to a new study the number of abandoned properties nationwide continues to creep up — particularly in one Tampa Bay ZIP code. ATTOM, a real estate data and analytics provider, released a report Thursday that found the national home vacancy rate has remained unchanged at 1.3% of all homes in the U.S. in the third quarter of the 2025 fiscal year.

› Pretty in pink: St. Augustine castle for sale with history and ties to famous sculptures [Florida Times-Union]
The Ancient City, St. Augustine, has plenty of historic architecture with interesting backstories. Why wouldn't it, when the city has eight castles packed into less than 13 square miles? Some of them are even on sale, like the famous Pillars Castle, known by locals as the "Pink Castle." Built in 1925 and on the market for three months, it was originally listed for $1,695,000 and recently dropped to $1,645,000.

USF joins statewide effort to expand newborn genetic screening and genomic medicine