Martin County Condo Sales Climb in October 2024
MIAMI — Martin County condo transactions increased year-over-year in October 2024, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS). Martin condo transactions jumped 16.4% year-over-year in October 2024, from 67 to 78. “Stuart and Martin County are celebrated for their small-town […]
Mortgage Rates Decline, but Median Home Prices Rise in June 2024
At the national level, housing affordability fell modestly in June compared to the previous month, according to NAR’s Housing Affordability Index. The monthly mortgage payment increased by 1.0% compared to the prior month, while the median price of single-family homes increased by 2.4%. The monthly mortgage payment increased by $23 from last month. Compared to […]
Miami-Dade Again Leads the Nation in Multifamily Units Under Construction
By Gay Cororaton, MIAMI REALTORS Chief Economist Miami-Dade County continues to rank No. 1 in the U.S. in multifamily units under construction with developers continuing to remain bullish given the area’s strong job growth and sustained migration. According to Cushman and Wakefield’s[1] multifamily report for 2024 Q3, there were about 25,000 units in […]
Miami-Dade County’s Out-of-State Driver License Exchanges in 2024 Q1-Q3 are Up 20% from Pre-Pandemic Level
By Gay Cororaton, MIAMI REALTORS Chief Economist Miami-Dade County is continuing to experience sustained migration in the first three quarters of 2024 using driver license exchanges as a migration indicator, according to Miami Association of REALTORS® (MIAMI) analysis of Florida Highway Safety and Motor Vehicles data. Driver license exchanges reflect the strength of […]
Southeast Florida’s Single-Family Market Poised to Grow 10% in 2025 as Mortgage Rates Decline to 5% by End of 2025
By Gay Cororaton, MIAMI REALTORS® Chief Economist MIAMI REALTORS® expects Southeast Florida’s single-family home sales to continue to perform strong in 2025, prices to continue to appreciate, and market conditions to become more competitive as mortgage rates continue to head downwards to 5% by the end of 2025. Here are our key projections: […]
Colombia is Top Foreign Country Searching Miami Real Estate
MIAMI — Colombia again registered the most global web searches for South Florida real estate in August 2024, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia, which is also South Florida’s top global buyer, has now finished in the top two countries searching Miami real estate in each of the […]
MIAMI Realtors and Solid Earth Partner to Launch Award-Winning Dashboard to Help Realtors Better Serve Their Clients
MIAMI — The MIAMI Association of REALTORS® (MIAMI), the nation’s largest local Realtor association, and Solid Earth, a leader in MLS software, have partnered to bring an award-winning dashboard to each of MIAMI’s 60,000 Realtors so they can be even more efficient, secure and productive in continuing to provide the highest level of service to […]
Miami-Dade County Job Creation Outpacing the National Rate
By Gay Cororaton, MIAMI REALTORS Chief Economist Miami-Dade County Job Creation Outpacing the National Rate This week, the Bureau of Labor Statistics released state-level data on August employment and July job openings. The data shows that Florida tops all states with the largest number of job openings where there are more job openings than […]
Miami Single-Family Home Sales Again Post Gains as Condo $1M & Up Sales Rise
MIAMI — Miami-Dade County single-family home sales continued its robust year and increased year-over-year as existing condominium $1M & up sales surged triple digits above pre-pandemic numbers, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the MIAMI Southeast Florida Multiple Listing Service (SEFMLS). Miami single-family sales have posted gains in […]
Southeast Florida’s Multifamily Rent Growth Outpaces the Nation Due to Lower Vacancy Rates
By Gay Cororaton, MIAMI REALTORS Chief Economist August 2024 Southeast Florida Residential Rental Market Report Southeast Florida’s vacancy rates on buildings with 10 units or more continue to trend below the national rate. As of August 2024, the vacancy rates on multifamily buildings with 10 units or more were lower in Miami-Dade County (6.2%), […]