Will a New Home Seller Rule Drive Down Florida Home Prices?

Home sellers in Florida will now have to disclose information about a property’s flood history to prospective buyers.

Chair in flooded living room
(Image credit: Getty Images)

Under new legislation Gov. Ron DeSantis signed into law last week, home sellers in Florida will now have to disclose information about a property’s flood history to prospective buyers. This information could change the housing market in the popular state, which has already been impacted by climate and environmental changes recently.

According to the bill, home sellers must provide a flood disclosure to a purchaser at or before the time the sales contract is executed. The act will take effect Oct. 1, 2024. As it now stands, home sellers do not have to provide information regarding a property’s flood history.

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.