HOA crash hitting Florida. 500% spike in liquidations.

HOA costs Florida are skyrocketing, causing many home and condos owners to sell their properties. Pushing Florida into the beginning stages of a housing crash in 2024, where inventory of homes for sale has spiked.

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The HOA costs are increasing because Florida Gov Ron Desantis signed a bill which mandated that all condo associations in the state have fully funded reserves by 2025. The result is huge increases in assessments for many homeowners.

This is also a nationwide problem. With HOA prevalence and costs increasing all across America. 45% of homeowners in Florida are in an HOA, while 40% in Colorado are, and 35% in California.

These skyrocketing HOA and insurance costs are intersecting with a big spike in mortgage rates over the last two years. Causing buyer demand to plummet in the Florida real estate market.
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