For decades, Florida has served as a haven from high-tax, high-cost states -- attracting retirees, snowbirds, hourly workers, and increasingly, younger professionals priced out of other housing markets.
In a notable shift in the housing market, baby boomers have surpassed millennials as the largest generational group of home buyers, according to the National Association of Realtors (NAR).
Florida Gov. Ron DeSantis recently voiced his support for eliminating property taxes in his state, a move that would make Florida the first state in the nation to do so if successful. However, critics argue that property taxes are a crucial funding source for local governments.
According to Redfin, U.S. homes are selling at the slowest pace since the pandemic's onset in early 2020, as high mortgage rates and elevated home prices persist.