Florida's housing market continued to show signs of resilience in May, with both home sales and pending activity rising year over year even as buyers navigated elevated mortgage rates.
According to the latest data from Florida Realtors, closed sales of existing single-family homes statewide totaled 24,915 in May, up 0.6% from a year earlier. Existing condo-townhouse sales reached 8,897, a 6.6% increase compared to May 2025.
The gains mark the ninth consecutive month of year-over-year increases in closed sales for both property categories, extending a streak that began last fall.
For mortgage professionals, the report points to a market where purchase activity remains active while inventory levels continue providing buyers with more choices than they had during the pandemic-era housing boom.
"May's housing data reflects a market that remains active, resilient, and increasingly balanced," said Chuck Bonfiglio, 2026 president of Florida Realtors and broker-owner of AAA Realty Group in Plantation. "Strong pending sales and continued buyer and seller engagement across many local markets are encouraging signs for Florida's housing market.
"As inventory levels improve and consumers have more options to consider, opportunities are emerging for those who are prepared and well-informed."
Pending Sales Point To Continued Activity
New pending sales — often viewed as a leading indicator of future closings — also increased in May.
Pending sales of existing single-family homes rose 4.8% year over year, while pending condo-townhouse sales increased 9%.
Florida Realtors Chief Economist Dr. Brad O'Connor said the data suggests the state's recent sales momentum could continue into the summer months.
"With a 6.6% increase year-over-year, condo and townhouse closed sales were up by a more comfortable margin than that of single-family homes — and new pending sales in this category were up by 9% (compared to May 2025), which means the nine-month streak in higher year-over-year closed sales in this category is almost assuredly safe going into next month," O'Connor said.
While the increase in single-family pending sales was more modest, O'Connor noted it still provides a positive signal for future transactions.
Inventory Gives Buyers More Leverage
The report comes as Florida continues to see inventory levels that are substantially healthier than those seen during the highly competitive seller's market of recent years.
Single-family homes ended May with a 4.7-month supply of inventory, while condo-townhouse properties stood at an 8.6-month supply.
The elevated inventory environment is giving buyers more negotiating power and more homes to choose from, conditions that can help support purchase activity even as affordability challenges persist.
For loan originators, the combination of rising inventory and growing pending sales suggests purchase opportunities remain available despite rate volatility.
Home Prices Mixed By Property Type
The statewide median sales price for existing single-family homes was $425,000 in May, up 2.4% from a year earlier.
Meanwhile, the median condo-townhouse price was $306,990, down 1% year over year.
The differing price trends reflect continued strength in the single-family market while portions of Florida's condo sector face additional supply and affordability pressures.
Rates Remain The Wild Card
Despite the positive sales trend, O'Connor said mortgage rates will continue to play a significant role in determining the market's direction.
"The direction that sales will trend continues to be heavily contingent on where mortgage rates go from here, and how soon," he said. "Inflation has continued to creep upward, spurred by high energy prices, and that is keeping rates a fair amount above where we started the year. Lower rates in the coming months would go a long way toward ensuring continued growth in sales figures."
For Florida lenders, the report offers another sign that the state's housing market remains active, with stronger inventory levels helping support buyer engagement and a growing pipeline of future transactions.
