Good morning! Real estate markets across the U.S. are heating up. In just 24 hours, New York City notched $226 million in property deals, and Manhattan apartment sales jumped 29% in Q1 as buyers flood back into the city.

Rents for studios to two-bedroom units in New York City are up 7.2% year-over-year, conversions are reshaping Midtown, and Manhattan’s median home value has reached $1.13 million, the highest in the nation.

Elsewhere, Zillow expects home prices to dip slightly as sales volumes rise, inventory builds, and buyers begin to regain leverage across the country.

Need assistance with real estate? Our official partner, Nest Seekers International, can help you buy, sell, rent, or invest anywhere in the world. Get in touch here.

Florida was once the poster child of the pandemic housing frenzy, sunshine, beaches, and real estate prices that rose faster than Bitcoin. But the Sunshine State is now nursing a serious housing hangover.

After a jaw-dropping 61% surge since 2020, Florida home prices are slipping into their sharpest downturn in over a decade. As of late April, the median single-family home price dropped to around $413,000, marking a 4% year-over-year decline.

Meanwhile, supply is exploding. In April alone, there were nearly 500,000 more sellers than buyers nationwide, a historic imbalance with many of those listings concentrated in Florida hotspots like Tampa and Miami.

That boomtown energy has turned into a buyer’s market, with “for sale” signs popping up faster than golf carts at a Boca Raton brunch.

The culprits? Sky-high hurricane insurance, rising property taxes, and ballooning HOA fees are leaving buyers skittish and sellers stuck. Condo owners are particularly squeezed, with older buildings facing expensive repairs and fee hikes that scare off anyone not named Blackstone.

This isn’t just a Florida thing, it’s a warning shot for overheated markets everywhere. When affordability deteriorates, even the most attractive destinations can lose their shine.

Takeaway: If Florida felt out of reach during the boom, this could be your window of opportunity. But be patient, the market correction is still playing out, and prices may not have bottomed yet. Turns out, if you wait long enough, even the palm trees go on sale.

When the team that co-founded Zillow and grew it into a $16b real estate leader starts a new company, investors notice. That's why top firms like SoftBank invested in Pacaso.

Pacaso is transforming the $1.3T vacation home market through a sleek co-ownership model, making second homes more accessible than ever. 

They’ve already generated $100M+ in gross profits and helped over 1,500 homeowners unlock luxury living.

Now, the company is focused on international expansion – achieving record-breaking sales in Paris, securing 7 homes in Cabo, and recently acquiring their most valuable European property yet in London.

The best part? You can join them as an investor for just $2.90/share right now. Grow with Pacaso as an investor today.*

Dealmaking & Latest Developments

Need help with real estate? Our official partner, Nest Seekers International, can help you buy, sell, rent, or invest, anywhere in the world. Get in touch here.