Florida TaxWatch: Rising construction costs hammer builders in the state

Florida TaxWatch on Wednesday released its latest Economic Commentary, “Trends in the Cost of Construction Materials,” a comprehensive analysis detailing the escalating prices of construction materials at both the state and national levels. The report aims to inform Florida taxpayers about current and potential future costs within an industry that constitutes a significant portion of the state’s economy. Contributing a staggering 5.7 percent, or $97 billion, to Florida’s Gross Domestic Product (GDP) in 2024, the construction industry is a cornerstone of the state’s economic vitality. However, according to the new commentary, this crucial sector is facing a period of heightened volatility. More from the Tampa Free Press, Florida Politics, and Florida TaxWatch.

Meet the insult comic who sells million-dollar homes in Florida

Breanna Banaciski has ditched the upbeat cheerfulness that is the industry’s default tone and brought sarcasm and zingers to the world of residential real estate. She would dearly love to make a sale and earn a commission, but first she’s going to make you laugh. Barbed humor and real estate, it turns out, are a potent combination. [Source: New York Times]

South Florida ranks as top homebuyer market in U.S. amid mass delistings

With nearly ten months' worth of housing inventory clogging the area market, South Florida appears to be heading into fall 2025 with the strongest homebuyer's market in the nation, according to Realtor.com. Miami beat out Austin, Orlando, New York City, Jacksonville, Tampa, and Riverside, California, which round out the seven metros with the strongest buyer's markets. [Source: Miami New Times]

Build-to-rent boom in Florida: The apartment alternative?

As housing costs continue to squeeze Florida families, a growing trend is offering renters an alternative to apartment living without the financial burden of homeownership: build-to-rent single-family communities. These developments, where entire neighborhoods of single-family homes are constructed specifically for rental rather than sale, are expanding as traditional homeownership becomes increasingly out of reach for many residents. [Source: WFTS]

This scenic Florida town has the cheapest real estate in the state

Ocala tops the list of Florida’s most affordable cities, offering small-town charm, equestrian appeal, and big value for homebuyers. At just $183.32 per square foot, Ocala tops the list of Florida’s most affordable cities for homebuyers, with a median list price of $303,575 and an average property size of 1,656 square feet. [Source: MSN]

STAT OF THE WEEK
$3,353
Effective property tax rates range from an average of 0.27% in Hawaii to 1.96% in Illinois. Florida's effective real estate tax is 0.80% with a median tax of $3,353. [Source: Motley Fool]

ALSO TRENDING:

› Small Florida town attracts athletes, stars but it's not Miami or Palm Beach [TC Palm]
Florida is an oasis for the rich and famous to retreat, especially on the Treasure Coast. North of the fanfare of Miami and Palm Beach is a small barrier island in Martin County called Jupiter Island. It attracts people from various avenues, such as celebrities, investors and athletes. The town has a permanent population of 820, with a seasonal population of nearly 2,000.

› Central Florida homebuilders offer hefty incentives as inventory soars, sales slow [Orlando Business Journal]
Central Florida homebuilders are ramping up sales incentives — offering up to $18,000 in closing costs and adjustable-rate mortgages as low as 2.99% — as they face record-high inventory and cautious buyers grappling with elevated home prices and interest rates. The region’s housing inventory has reached historic highs, while closed sales continue to decline.

› More than 2,000 new homes, apartments, and condos in pipeline for Coral Springs [Tap Into Coral Springs]
More than 2,000 apartments, condos, and single-family homes have recently been built, are under construction, or are under consideration in Coral Springs, according to new city data shared with city commissioners last month. The figures show 2,071 new housing units tied to 13 development projects citywide between 2021 and 2025.

› Monthly home sales across First Coast fall for fourth straight month [Florida Politics]
The First Coast housing market is stuck in a slump that has now seen falling monthly home sales across the region for four straight months. The Northeast Florida Association of Realtors (NEFAR) published the August home sales figures for the six-county area, showing there were 1,730 closed home sales last month. That’s an 8.8% drop in sales from August 2024, when there were 1,896 sales.

David Denor at the 2022 Florida Southern College Winter Commencement