Existing Home Sales Fall 5.9% in March 2025

In March 2025, existing home sales fell 5.9% from February, reaching the slowest March sales pace since 2009. This drop is primarily attributed to high mortgage rates and concerns about the broader economy. 

Meanwhile, Florida is getting crushed as the pandemic-era migration of out-of-state buyers dies down and property insurance costs and other expenses of ownership soar. Homebuilders are undercutting sellers of existing homes by subsidizing mortgage rates and offering other deep discounts.