People ask me all the time whether Florida is about to crash. My honest answer: the statewide headline doesn't help you much. Florida is dozens of markets, and right now they're moving in different directions.
In the video I named the ten cities I'd be most careful in. Here I want to explain why, so you can apply the same thinking to any address, including here in Palm Beach County.
Three pressures, all at once
Distress is rising in some places. Per ATTOM, Florida had the highest state foreclosure rate in the country in the first half of 2026: 27,494 properties with a filing, about 0.27% of housing units, or one in 373. That was up about 33% from a year earlier. The national rate was 0.16%. The worst Florida metros were Punta Gorda, Lakeland, Cape Coral, Jacksonville and Ocala.
Fewer people are moving in. People still arrive every day, but net domestic migration has slowed sharply. Census estimates show Florida gaining about 310,900 people from other states in the year to mid-2022, but only about 22,500 in the year to mid-2025.
Houses and condos have split. In many counties, single-family values and condo values are going opposite ways. The difference usually isn't the neighborhood. It's insurance, association costs and lending rules.
Why condos are under more strain
Since the Surfside collapse, Florida has required structural inspections and reserve studies for older condo buildings. That was the right call for safety. It also means owners in some buildings are now funding repairs and reserves that were put off for years.
Lenders pay attention too. A building with open safety findings, weak reserves or heavy litigation can be harder to finance, and that narrows the buyer pool. For loan applications dated on or after August 3, 2026, Fannie Mae and Freddie Mac retired their lighter review options for established condo projects, so most buildings now get a Full Review of budget, reserves and insurance. Starting in January 2027, expected reserve funding rises from 10% to 15% of the annual budget.
This is why I tell condo buyers to look at the building like they're buying all of it. I break down what to ask for in my West Palm Beach condo due diligence guide.
Insurance and flood
Two homes on the same street can carry very different insurance costs. Roof age, elevation, construction type and flood zone all matter. Always get a quote on the exact address, ideally with an elevation certificate, before you're past your inspection period. You can look up flood zones on FEMA's map service.
What about Palm Beach County?
Palm Beach County isn't immune to any of this, but it's also not one market. A newer, well-funded tower on the West Palm Beach waterfront and an older building with an open repair project are two completely different purchases, even at similar prices.
That's why our condo building reports focus on reserves, HOA and true monthly cost.
Before you buy anywhere in Florida
- Look at foreclosures and inventory for that specific market, not the state.
- Decide whether you're shopping houses or condos. They behave differently right now.
- Price insurance on the actual address.
- For condos, review reserves, inspections, minutes and assessments.
Get those right and you avoid most of the mistakes I see buyers make.
— Joel Poulin, Broker Associate | The Corcoran Group · (561) 556-3668