Loading
Residential home sales data for Florida in March was certainly sunny, with double-digit percentage increases in sales for single-family homes and condos.
But a few lines in a U.S. Census Bureau report released earlier this spring clouds that report. To wit: There are 1.6 million vacant homes in Florida, which is 18% of the total homes, the bureau reports. That's up 63% in the last decade.
Florida's total vacant home count is more than two states also caught up in the real estate crash, Nevada and Arizona, which had 14% and 16%, respectively. California has a comparably low rate of 8%, according to the census report.
Even worse for the Gulf Coast is the region is a statewide leader when the data is broken down by county. Collier County has the highest vacancy rate in the state at 32%, while Lee County has a 30% rate and Sarasota County has a 23% rate. Pinellas County, at 17%, and Hillsborough County, at 12%, look rosy in comparison.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
