Data Analysis

Realtor.com reported on September 2, 2026 that active listings fell year over year in all four Florida metros among the nation's 50 largest in August, led by declines of 16.9 percent in Jacksonville and 15.0 percent in Miami, while national inventory rose 3.6 percent.

Jacksonville and Miami posted the two steepest inventory declines of any large metro in the country. Florida list prices fell faster than the national average even as supply tightened.

Realtor.com published its August 2026 Monthly Housing Trends report on September 2, 2026, and Florida ran against the national pattern on supply. Active listings nationally rose 3.6 percent over the year to 1,140,035, the fastest year-over-year growth of 2026 so far. All four Florida metros in the 50 largest markets went the other way. Jacksonville active listings fell 16.9 percent and Miami-Fort Lauderdale-West Palm Beach fell 15.0 percent, the two steepest declines in the top 50. Tampa-St. Petersburg-Clearwater fell 6.4 percent and Orlando-Kissimmee-Sanford fell 2.5 percent. Nationally, 37 of the 50 largest markets recorded inventory growth. The national median list price was $424,500, down 1.3 percent over the year.

Which Florida metros are tightening, and by how much?

Jacksonville is the sharpest case in the country. Its active listing count fell 16.9 percent over the year, its median days on market fell 9 days, the largest decline of any large metro, and its share of listings with a price cut fell 5.6 percentage points to 24.3 percent, also the largest drop in the top 50. New listings there rose 5.5 percent. So sellers are still coming to market in Jacksonville, and inventory is falling anyway, which points to homes clearing rather than to sellers staying home.

Miami-Fort Lauderdale-West Palm Beach follows with a 15.0 percent inventory decline, new listings down 1.0 percent, days on market down 5, and a price-cut share of 14.6 percent, down 2.8 points and among the lowest of any large metro.

Tampa-St. Petersburg-Clearwater fell 6.4 percent on inventory with new listings down 1.4 percent and days on market down 3. Orlando-Kissimmee-Sanford fell 2.5 percent on inventory while new listings rose 5.4 percent, and its days on market fell 2.

If inventory is falling, why are Florida prices still down?

Because tightening supply has not translated into pricing power in these markets yet.

Tampa's median list price was $390,000 in August, down 6.0 percent over the year, and its median list price per square foot fell 5.6 percent, the second-largest per-square-foot decline in the top 50 behind Austin. Jacksonville's median list price was $380,000, down 4.8 percent, with per-square-foot down 2.2 percent. Miami's was $490,000, down 2.0 percent, per-square-foot down 0.8 percent. Orlando's was $415,000, down 1.9 percent, per-square-foot down 2.6 percent.

Every one of those price declines is steeper than the national median list price decline of 1.3 percent, and three of the four are steeper than the South region's 2.6 percent decline.

Note what these figures measure. Realtor.com reports list prices, meaning what sellers are asking on active inventory, not what buyers paid. A falling median list price can reflect a change in the mix of what is listed as much as a change in value. That distinction matters in Florida, where the condo segment carries its own supply and cost problems and can pull a metro's list-price mix downward.

How does this compare with the Beige Book published the same day?

This is a correction to our own reporting from earlier today, and it is worth stating plainly.

The Federal Reserve's Beige Book, released the same afternoon, said that in the Sixth District "falling inventory levels in many geographies contributed to upward pressure on home prices." Momentum Research's Beige Book coverage argued that Florida data pointed the other way on both inventory and prices, citing months of supply from Florida Realtors.

The Realtor.com data show that was half wrong. Florida inventory is not rising. It is falling faster than almost anywhere else in the country, which is consistent with what the Fed's contacts described. Months of supply and active listing counts are different measures, and using the former to argue about the latter was an error.

The price half of that disagreement stands. The Beige Book links falling inventory to upward pressure on prices, and Florida list prices fell across all four metros in August, more steeply than the national figure. Supply is tightening in Florida without prices responding, at least so far.

What did the national report say?

Realtor.com economist Jake Krimmel framed August as a month when outside conditions gave the market no help. Mortgage rates hit their 2026 high on August 6 and stayed near it, and monthly average rates have risen for six straight months, from a 2026 low of 6.05 percent in February to 6.67 percent in August. As recently as June rates were running more than 30 basis points below year-ago levels, and by August they were roughly 10 basis points above.

The national figures for August 2026:

Median list price $424,500, down 1.3 percent over the year and down 1.0 percent from July. That is the tenth straight month of year-over-year declines, though the decline is roughly half of July's 2.4 percent pace. Median list price per square foot was $224, down 1.8 percent.

Active listings 1,140,035, up 3.6 percent over the year and 11.1 percent below typical pre-pandemic levels. New listings 401,760, down 0.1 percent over the year and down 5.2 percent from July. Median days on market 60, unchanged from a year earlier and 3 days above July.

Price reductions reached 20.4 percent of listings, matching last year's level for the first time in 2026 after trailing it all spring. The stock of pending listings fell 0.2 percent over the year, snapping eight straight months of growth, and contract signings fell 3.4 percent.

Delistings ran 12.6 percent below last August, with no late-summer spike of the kind seen in 2025, and the quit rate held near 5.5 percent of active inventory for six weeks.

What does the South region look like?

The South was the weakest region for inventory growth at 1.1 percent, against 10.5 percent in the Midwest and 9.1 percent in the Northeast. South new listings fell 0.9 percent. The South median list price was $380,000, down 2.6 percent, with per-square-foot at $202, down 2.9 percent, the steepest regional per-square-foot decline in the country.

South days on market was 66, the longest of any region and down 1 day over the year. The South price-cut share was 21.4 percent, down 0.4 point over the year, one of only two regions running below its year-ago cut rate.

Market conditions for the individual Florida markets are tracked on the Jacksonville, Miami, Tampa and Orlando hub pages.

Limitations

Realtor.com reports list prices and active inventory from its own listing database, not closed sales or transaction prices. These figures are not comparable to repeat-sales measures such as the FHFA index or to closed-sale medians from Florida Realtors, and a disagreement between them is not evidence that either is wrong.

New construction is excluded unless listed through an MLS that supplies data to Realtor.com. In Florida, where new construction is a meaningful share of supply in several metros, that exclusion matters.

Only four Florida metros appear in the report's table of the 50 largest markets. Florida markets outside Jacksonville, Miami-Fort Lauderdale-West Palm Beach, Tampa-St. Petersburg-Clearwater and Orlando-Kissimmee-Sanford are not covered here.

Realtor.com states that it restated some data points beginning with its January 2025 report, so figures here may not be directly comparable to files downloaded before that date. The company also notes that its report commentary uses a revised pending home sales series while its downloadable data still uses the legacy pipeline, so the two can differ slightly.

Year-over-year comparisons in this report run against August 2025, a month Realtor.com describes as having had an unusual delisting wave. The company cautions that this year's inventory growth comparison is affected by that base effect.

Sources

Realtor.com, August 2026 Monthly Housing Trends Report, "Price Cuts Catch Up, Pending Sales Turn Negative," by Jake Krimmel, published September 2, 2026, at https://www.realtor.com/research/August-2026-data/. National, regional and 50-metro tables and methodology from the same report.

Federal Reserve Board, The Beige Book, Sixth District report, released September 2, 2026, at https://www.federalreserve.gov/monetarypolicy/beigebook202608-atlanta.htm.

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.