Florida remains desirable for many, with its warm climate, no state income tax, and extensive coastline.

However, the real estate market is shifting. According to Realtor.com’s September Housing Market Report, four of the ten U.S. metro areas with the most significant year-over-year declines in home prices are in Florida. Miami experienced the steepest drop at 12.4%, with Jacksonville, Orlando, and Tampa also seeing major price reductions.

These declines follow a post-pandemic population boom. Since 2020, Florida’s population has grown from 21.5 million ...