Florida housing crisis escalates in five major cities as sales plummet
Home sales in five major Florida cities have plummeted amid a snowballing real estate crisis in the southern state. Natural disasters, rising homeowner's association (HOA) fees, increasing insurance costs and new condo regulations have come together to sap demand from a market that was booming just four years ago during the COVID-19 pandemic. Fort Lauderdale, a city on Florida's east coast, saw pending sales drop 15.2 percent year over year during a four week period ending on November 10, according to a Redfin analysis.
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