Florida's Housing Market correction has begun. Prepare for mass selloff.

Florida's Housing Market has hit an inflection point in 2024. Where inventory and new listings are surging, in part due to a big selloff from Airbnb investors happening in cities like Orlando, Tampa, and Miami.

These Airbnb investors bought in Florida's real estate market during the bubble in 2021 and 2022. But now many are losing money and being forced to sell. Which is causing inventory levels to skyrocket.

Inventory of homes for sale is up 57% YoY in Florida and up 400% from their lows two years ago during the peak of the pandemic bubble. Such a rapid increase in inventory means that home prices in Florida are becoming more likely to decline. Especially given their high levels of overvaluation.

One area where inventory has really surged, especially due to Airbnb investors selling, is Osceola County. Which is south of Orlando. Inventory of homes for sale in Osceola County is way up from their long-term norms. And signals that the market has entered a downturn.
---

DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.

[ReventureConsulting]

Inventory in Florida's housing market is up 400% over the last two years.

In large part due to a big selloff from Airbnb investors like the one highlighted at 4:06 of the video.

Be careful if you're buyer/investor in Florida right now. Market has turned. And prices could drop quickly, depending on the extent of the inventory spike and how overvalued the market is.

Head to www.reventure.app to track the inventory levels in your ZIP code and county.

[austinbar]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[Accrd]

I live in Osceola, Kissimmee, FL. Let me tell you. Drive along Lakeshore drive on East Lake Toho and there are homes EVERYWHERE for sale. I've lived here 12 years after moving from North FL for my wife's job and I've never seen so many homes for sale. I live in a upper middle class neighborhood and there are at least 7 in my small place for sale. Homes are sitting! They told me that during the recession of 08/09 there were over 20 homes under foreclosure here at one time!! We bought our home for next to nothing in 2012 because of it. I think that time is coming soon. There is no way that 80k homes that were built in the 60s in St Cloud are suddenly 280k just a few years later. People have lost their minds.

[jasonsheehan]

I just took a weekend trip to the mountains of Virginia. I saw so many airbnb's asking $350+ per night + cleaning fee+ tax. There was tons of inventory but not priced to coincide with supply and demand. People are about to get a reality check.

[specialk]

FL homeowner here. Been following the market for the past 3 years. It's been so crazy with homeowners insurance doubling and 40% tax increases. The dropped pricing is not enough for anyone to bust a move and buy or sell.

[bobkelly-ssnn]

Homeowners that live there would call you a liar. They live on another planet. I remember back in 2006 a friend lived in Naples, he told me they can get any amount hey want for their property. 2008 came and washed them out.

[matth]

Florida has some of the shittiest pay to even start with. Now insurance costs so much in Florida that you qualify for 100k less on a house 🤯. Plus half the houses in Florida are old 70s shit shacks nobody has ever updated. Ppl paid 650 for a house that should have never sold for more than 180k

[kevinbarry]

Does anybody ever expect a realtor to tell you that this is not a good time to buy? They are not advisors, their salesman. Simple as that. They make money when a property is sold. Therefore they want you to buy,

[ELEVOPR]

Airbnb itself as well as Owners got very greedy to the point I was better off staying at a hotel with Security and no cleaning fees.

[redtiger]

Each night I have people come into the restaurant I work at and sit at the bar (I'm the bartender) They ask me for local information because they are Air BnB investors and need to improve their listings. I ask where they live, it is always out of state. I also ask them how many units they have and on average it is 3.

[jacksfrost]

I’m in Oviedo Florida. New construction is exploding everywhere. 400k plus prices.
I am a delivery driver and can tell you for sale signs on homes popping up everywhere. Also a bunch of people selling cars, boats, RVs sitting in yards. Buckle up friends we are in a recession headed for a severe depression.

[MrDCMiami]

I sold my high-rise condo in Aventura, FL in January and moved 3 hours up the coast to Palm Bay/Melbourne. I'm renting now and cut my housing costs in half, and half of that rent is paid by my equity money from the sale at 5.5% in a hi-yield savings account. So in effect, my housing costs have been cut by 75% because the "equity" in my ex-condo was doing nothing for me, because further appreciation was out of the question and likely is for many years.

I have no interest in "owning" (in reality, YOU are now owned INSTEAD of your home) whatsoever. For that to change, both massive price reductions and after-mortgage cost controls would have to appear. I doubt that combination will happen. Maybe one, but not both. Being owned by a home gives too many entities a license to steal, without limit. Fuck that. I've zipped my pockets.

[adoss]

Oh no, allow me to "make fun" of this "investor". What people are asking for right now is an EXTREMELY tall order. You bought the property for a reasonable amount in a low interest, low insurance and low property tax environment and NOW you're asking someone to come around, pay MORE, pay double - possibly TRIPLE - the interest, double the taxes and double the insurance? Oh hell nah. I'll bet YOU wouldn't even qualify for the house you're selling right now. You're completely expecting this next wave of buyers to be way, way more capable than you were. There are only so many people who fit this bill. Good luck to you.

[khanfauji]

A lot of the people that got wiped out in 2008 never recovered. There were average people walking around with multiple properties under their belt because financing was easy. Similarly there are people around today that bought property because the price only made sense if you put it on Airbnb using data that showed a cap rate much higher that it actually turned out to be. These people also don’t have conventional loans And their loan payments go up once interest rates go up eroding any profit margins.

[-wilson]

The homeowners on a condo I own in FL went up 400% last year and the taxes have doubled in 5 years. Oh, and also the HOA has increased 400% also

[thatblife]

Florida home owner here. Anyone that bought after 22 is selling. They got screwed

[victorsong]

More listings are coming.
The snowbirds had their winter stay and now they are, and will be liquidating due to insurance and tax increases and the current inability to rent until the fall.

[EvilMonkey]

The average Airbnb property now only brings in $14K a year. That's a lot of investors losing money, so that's hundreds of thousands of properties that will have to switch to long-term rentals or sell in the coming year.

[billp]

I just spent Jan thru March in Polk County Florida. It is the 4th fastest growing area in the USA But older homeowners are complaining about the traffic and over building. There are many lakes so there are few north south, east west thru roads and All of these in certain areas are massively crowded during the day. I could not make a left turn out of my village during weekdays. There is also a huge migrant presence, fast rising insurance rates and taxes. At some point many will flee. The only good outcome was finding I do not wish to live there or Orlando.

[ARpoint]

Out of towners who bought in Osceola county realized they moved to Puerto Rico FL. and said nope..