Broward County Market Snapshot: What April's Numbers Tell Us About May

April brought some of the clearest data we've seen all year for the Broward County housing market and the story it tells about May is worth paying attention to whether you're buying, selling, or just watching from the sidelines.

Here's what the numbers actually say, and what it means for the next 30 days.

The Three Numbers That Matter

1. Mortgage rates dropped to a spring low.

The 30-year fixed-rate mortgage averaged 6.23% as of April 23, down from 6.30% the week before and noticeably lower than the 6.81% buyers were facing this time last year. According to Freddie Mac, that's the lowest rate we've seen across the last three spring homebuying seasons.

For Broward buyers, the practical impact is real. On a $455,000 home (Broward's median single-family price) with 20% down, the monthly principal and interest payment at today's rates is roughly $215 lower than it would have been a year ago.

2. Inventory is still working in buyers' favor.

Broward's single-family market is sitting at roughly 5 months of supply, moving toward balance but still favoring buyers in most price ranges. The condo market remains deeper in buyer's territory, with around 11 months of inventory countywide.

What that means: well-priced homes are still moving in 60-90 days. Anything overpriced sits, gets stale, and ultimately sells for less than if it had been priced right from day one.

3. Days on market keep climbing.

Homes in Broward are now averaging 92 days on market, compared to 85 a year ago. In Fort Lauderdale specifically, that number has stretched to 104 days. This is one of the strongest signals available that buyers (not sellers) currently hold negotiating leverage.

What This Means If You're Buying in May

The combination of lower rates and elevated inventory creates one of the more buyer-friendly windows we've seen in years. A few practical takeaways:

• Lock-in opportunities matter more than perfect timing. Rates are at a one-year low. If you're pre-approved and the right home appears, this is a window worth using rather than trying to time further drops.

• Concessions are negotiable. Closing cost credits, seller-paid rate buydowns, post-inspection repairs: all of these are back on the table.

• Target homes that have been listed for 60+ days. That's where the most flexible sellers live.

What This Means If You're Selling in May

A few realities to make peace with before you list:

• Pricing strategy is everything. Sellers can no longer "leave room for negotiation" by listing high. The market punishes mispricing with extended days on market and eventual reductions.

• Concessions will likely be part of any offer. Expect buyers to ask for help on rate buydowns or closing costs. Build that into your pricing strategy from day one.

• Presentation matters more than ever. With buyers having more options, a home that shows well: staged, photographed properly, priced right still sells in 60-90 days. One that doesn't can easily sit past 120.

The Bigger Picture for South Florida

Broward continues to outperform Miami-Dade in single-family stability while running parallel in the condo market's struggles. Fort Lauderdale, Hollywood, and Pembroke Pines are all showing similar patterns: inventory rising, days on market extending, and price growth flattening.

The wild card for May and beyond is what happens with mortgage rates. Most major forecasts (Fannie Mae, MBA, Bankrate) expect rates to stay in the 6%-6.5% range through the rest of 2026, with the possibility of dipping into the high 5s by year-end. Geopolitical tensions and inflation remain the biggest variables.

The Bottom Line

May is shaping up to be a buyer's month but a prepared buyer's month. The leverage is real, the rates are favorable, and the inventory is there. What's no longer there is the luxury of moving slowly.

If you're thinking about buying or selling in Broward this spring and want to walk through what these numbers mean for your specific situation, I'd love to help you put together a plan. With my growing all-in-one approach (real estate plus mortgage), I can model the actual numbers like payment, taxes, insurance, HOA, the works before you make any decisions.

Reach out anytime.

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Sources: Freddie Mac PMMS (April 23, 2026), MIAMI REALTORS®, Redfin, Bankrate Florida (April 26, 2026), Fannie Mae forecast, MBA forecast.