TALLAHASSEE, Fla. — Governor Ron DeSantis has acknowledged that recent housing laws in Florida are well-intentioned but has raised concerns about their potential effects on affordability for residents. At a press conference for the signing of legislation aimed at reforming the state’s condominium landscape, DeSantis noted community apprehensions regarding the financial implications of various assessments that could impact whether people can remain in their homes.
The Florida housing market has been in the spotlight recently due to an increase in inventory and a decline in home prices. As of late June 2025, data from Altos Research indicates that there are 74,327 condos listed in Florida, a significant rise of 20,000 listings compared to June 2019, just before the COVID-19 pandemic began. The median listing price for a condo has fallen to approximately $350,000, down from a peak of $445,000 in May 2022, but still up by about $50,000 compared to pre-pandemic levels. The increase in inventory along with the drop in prices reflects a buyer’s market, as evidenced by an Altos Market Action Index score of 26, indicating favorable conditions for purchasers.
In recent years, Florida has implemented various reforms aimed at improving the safety and accountability of condominium associations. New laws mandate milestone inspections for older buildings, which must be completed by the end of 2024. These regulations apply specifically to structures with three or more habitable stories. During these assessments, many condo associations raised homeowners’ association (HOA) fees, which sparked concern among unit owners.
Changes under the new legislation include a temporary pause on reserve funding for two years following a milestone inspection, along with provisions allowing associations to utilize lines of credit and Certificate of Deposit accounts for reserve funds. Additionally, local governments are now required to report the status of these inspections to the state.
The reforms also enhance transparency by requiring condo associations to publish meeting minutes from board meetings conducted in the preceding year on their websites. Prospective buyers will benefit from an extended rescission period of seven days to review association documents before making a decision.
Further implications of the law include a 10-year ban from property management for certified apartment managers whose licenses have been revoked. This move aims to improve accountability within the property management sector.
Danielle Blake, chief of residential and advocacy at the Miami Association of Realtors, emphasized the importance of increased transparency and accountability in the housing market. She noted that standard forms for Structural Integrity Reserve Studies (SIRS) will allow buyers to make more informed comparisons across properties, promoting consistency and clarity.
Blake expressed her interest in how lenders will respond to these changes, particularly regarding the new transparency surrounding upcoming special assessments. She believes these factors will influence buyer sentiment, though she cautioned that fluctuating interest rates and insurance costs are likely to play a larger role in buyers’ decisions.
“As buyers consider their options, affordability remains paramount, particularly how pending assessments may impact their financial situations,” Blake said, reinforcing that interest rates will largely determine overall market activity.
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