Florida real estate prices grew this spring but housing market is getting a wakeup call
Economic challenges are pressuring home sales across the country but 99% of the top 100 markets still sizzled in May, with South Florida climbing the list of most overvalued regions in the nation. Seven areas in Florida made it into the top 25 most overvalued markets, with Fort Myers ranking the highest statewide and sixth place nationally. Homebuyers there paid 60% more in May than they would in a normal market. Lakeland, Tampa, Bradenton-Sarasota, Melbourne, Daytona Beach and Orlando were also in the top 25.