Zillow estimates tanking. Investors taking $150,000 write downs on houses.

Investors are now selling at a loss in Florida’s Housing Market, with the Zillow Value estimates on some listings collapsing as much as 30%.

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This listing in Punta Gorda, Florida is one such situation. The investor – First Key Homes – bought at the peak of the bubble in 2022 for $445,000. And is now selling for $330,000.

The reason investors are starting to sell in Florida and Texas is because inventory is spiking. Homes for sale has exploded and now prices, as well as rents, are dropping.
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