There has been a relentless climb in home prices in the U.S. over the past three years, but a growing number of markets face the risk of a steep price correction. A new report published by Parcl Labs, a real-estate data and analytics firm, shows there are 15 housing markets in the U.S. that are "at risk" of a home-price correction in the coming fall and winter months.
On top of that, a growing number of insurance companies in the Sunshine State are either leaving or raising their rates. Finally, a new state law passed after the Surfside Condo collapse in 2021 has put "downward pressure" on many older condos along the Florida coastline. The law requires inspections of all condominiums and cooperative buildings that are three stories or higher. If there are any issues with the structure, a structural integrity reserve study must be completed.