What can Florida expect in 2023?

The state of Florida's housing market now and into 2023.

A report published in September, 2022, by TD Economics states that Florida's housing market--like the rest of the nation--is cooling down. Home sales in Florida as of July are down 25% due primarily to higher mortgage rates.

Florida experienced an amazing growth in home sales of 58% during the Pandemic, second in the nation only to Arizona.  The prediction in the TD Economics article linked above is that Florida will see a decrease in sales of 10-15% between now and June 2023. That said, home sales (and home construction) are not expected to take a hit anywhere like we saw in the previous recession.  There are several reasons for this:

Florida's demand for labor continues albeit at a slower pace
Tighter restrictions on home lending in the past 20 years mean that current homeowners are more solvent, so we should see less distressed sales
The shortage of housing, to begin with, means that the demand for new homes in Florida will continue to grow in the next five years

The bottom line is that it is still a good time to enter into the construction trades.  Florida's housing inventory is still not up to demand and will remain so for the next five years at least.  People are still moving to Florida and they need a place to live.  Many of them want to build or will want to remodel existing homes. https://www.activatemylicense.com/real-estate-2023