Florida’s red-hot COVID-19 pandemic housing boom is giving way to something not seen in years: a buyer’s market.

Miami, Orlando, Jacksonville , and Tampa have all crossed into buyer-friendly territory, signaling a dramatic shift in bargaining power and a new chapter for the Sunshine State’s housing market, new Realtor.com® data shows.

Over the past three years, Florida epitomized the frenzy of a seller’s market. Out-of-state buyers poured in during the pandemic, lured by sunshine, space, and relative affordability compared with coastal hubs like New York and Los Angeles. Homes were snapped up within days, often above asking price, and inventory hit record lows.

Now the pendulum has swung. The population growth into the Sunshine State has slowed, and housing inventory has started to

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