Property tax cuts could end up squeezing some Florida renters

Some renters may face higher costs if Florida voters approve property tax cuts on the November ballot — dealing another blow to housing affordability, real estate experts say. To make up for tax-cut losses, local governments might raise tax rates on non-homesteaded properties, which could include rental properties, said Ken Johnson, the chair of real estate and professor of finance at the University of Mississippi and the founder of Florida Atlantic University’s Real Estate Initiative. [Source: South Florida Sun Sentinel]

Condos are for sale at the site of Florida’s Surfside tragedy. Not one has sold.

The collapse of Champlain Towers South marks its fifth anniversary on Wednesday. It was one of the deadliest structural failures in U.S. history. The 12-story beachfront building fell in a matter of seconds in the middle of the night, a sudden rush of concrete that crushed sleeping families. Many Florida developers viewed rebuilding on the site as too sensitive. In 2021, a state court ordered the condo association’s receiver to sell the land to help fund a $1 billion settlement for families of the victims. The only firm to bid on the site was Damac, paying $120 million for the roughly 1.8 acres. [Source: Wall Street Journal]

Florida Trend Exclusive
Big-time builders

The St. Joe Company's 110,000-acre Watersound development, one of the nation's fastest-growing planned communities, is attracting a blue-chip lineup of major U.S. home builders to the Panhandle. The latest to join St. Joe's slate of 20-plus builders — which includes DR Horton — is Atlanta-based PulteGroup, the nation's third-largest home builder. [Source: Florida Trend]

Inside the growing presence of affluent women in Florida’s luxury real estate market

For decades, the luxury housing market was largely associated with wealthy couples, families, and male-led purchasing decisions. That story is being rewritten. Today, a growing number of affluent women are reshaping the landscape, emerging as one of the most influential buyer groups in high-end real estate — and they are arriving with clear priorities, significant capital, and an eye for what truly matters in a home. [Source: Haute Residence]

See the 77 major housing markets with falling home prices

In the first half of 2025, the number of major metro area housing markets seeing year-over-year declines climbed. That count has since stopped ticking up. Among the 77 major metro area housing markets seeing falling year-over-year home prices, these had the biggest declines: Punta Gorda, Florida (-7.9%); London, Kentucky (-7.1%); Cape Coral, Florida (-6.1%); Austin (-5.7%); North Port, Florida (-5.3%); Kahului, Hawaii (-4.6% ); and Naples, Florida (-4.4%). [Source: Fast Company]

STAT OF THE WEEK
$75 million
A sprawling waterfront mansion recently sold for $75 million in Boca Raton, becoming the most expensive home sold in the United States in May. [Source: South Florida Sun Sentinel]

ALSO TRENDING:

› Miami home sales rise for 9th straight month [Islander News]
Housing transactions are hitting goals like a left-footed blast from Messi these days. Miami-Dade County's total home sales rose year over year for the ninth consecutive month as South Florida’s heavy-cash, high-demand market continues to lead the nation, according to May 2026 statistics released by MIAMI REALTORS® + RWorld, the MIAMI MLS and BeachesMLS. According to the data, total home sales increased 7.9% year-over-year in May (from 1,913 to 2,064). Single-family home transactions rose 10.5%, while condo sales increased 5.4%.

› Orange County launches ‘Building Affordable Orange’ program [WFTV]
Orange County has launched a new training and technical assistance program, “Building Affordable Orange”. The program is designed to help nonprofit organizations and faith-based institutions develop affordable housing projects. The five-part training series began earlier in June. The Building Affordable Orange program was developed in partnership with the Florida Housing Coalition. It provides participants with the tools, knowledge, and guidance needed to navigate the affordable housing development process while strengthening their capacity to serve the community.

› Two iconic downtown St. Petersburg buildings just sold for $32.5 million [Tampa Bay Times]
A Naples developer has purchased the hurricane-battered office tower that once housed the Tampa Bay Times along with a long-shuttered historic building on the same block for a combined $32.5 million. The plan is to demolish the office tower, preserve the historic building and add a high-rise condo to the site, said Keith Gelder, president of Stock Development. “The building has been sitting empty and damaged for some time so I think everyone is looking forward to the next chapter,” he said.

› Spirit Airlines sets date for HQ auction [South Florida Business Journal]
Spirit Airlines has set a date for the auction of its former corporate campus in Dania Beach. The now-defunct ultra-low-cost carrier will hold an auction for the 8.5-acre complex, at 1731 Radiant Drive, on July 22 in New York, according to a copy of a May 30 letter to Broward County from Spirit. The campus comprises four buildings developed in 2024, including an office, parking garage, training facility and temporary housing for out-of-town employees visiting on company business. Together, the buildings span 615,595 square feet.

First affordable apartment community opens in St. Augustine area, offering workforce housing