Florida's real estate landscape continues to evolve, with July marking a significant turning point for the housing market. According to the latest housing data from Florida Realtors®, the market is experiencing both positive and challenging trends that shed light on the current state of affairs for buyers and sellers across the Sunshine State. **Mortgage Rates Remain a Key Player** One of the key factors affecting Florida's housing market is the fluctuation of mortgage rates, which have settled around 7%. This has posed challenges for both buyers and sellers, impacting affordability and influencing market dynamics. G. Mike McGraw, 2023 Florida Realtors® President and a broker-associate with RE/MAX Central Realty in Orlando, remarks on this issue, stating, "Buyers and sellers in Florida continue to be challenged by higher mortgage rates." This challenge has shaped the market's behavior over the past few months. **Improving Inventory Levels** Despite the impact of m