The Great Recession sometimes seems like a lifetime ago—but the housing industry is still feeling its effects. Adjusting for inflation, home prices nationwide didn’t match their pre-recession peak until mid-2021. In Florida, home prices have yet to fully bounce back, according to a study by Construction Coverage.
The median home price in Florida this summer was about $397,000. Adjusted for inflation, the pre-recession peak in October 2006 was at about $409,000. Most metro areas are still recovering, too. Fort Myers in particular is still 16% behind where it was in May 2006, the largest gap in the state.