South Florida Affordable Housing Construction on the Rise Because of Live Local Act
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways 5,427 units in Fully Affordable buildings and 7,250 units in Partially Affordable buildings are under construction as of January 2026, with 11,619 units in Fully Affordable buildings completed and projected to be completed from 2024-2027. Occupancy in workforce rental housing is higher at 97% […]
South Florida Million-Dollar Home Sales Surge 24%
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways South Florida’s housing market started off strong in January 2026, with single-family and condominium sales up 5.2% overall. Sales of million-dollar single-family and condominium/townhomes sales surged 23.8%. South Florida million-dollar market is poised to continue to grow in 2026 due to favorable market fundamentals […]
Miami-Dade Home Equity Gains Nearly 2X the National Figure
By Gay Cororaton, MIAMI REALTORS Chief Economist With prices rising robustly and on a sustained basis for the past 14 years, Southeast Florida homeowners have achieved higher levels of home equity and equity ratios (equity/sales price) than nationally over the past 15 years since 2010 Q4.[1] Given high levels of equity, homeowners are […]
New York, Texas, and California: Top States Switching Jobs to South Florida
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways In 2024, 55,244 out-of-state workers switched to a Miami Metro Area job, led by movers from New York, Texas and California. Over the period 2024 Q1-Q3, out-of-state job movers contributed $5.1 billion to the Miami Metro Area employment earnings in 2024. The […]
South Florida Ultra-Luxury and Luxury Home Thresholds Rise to Record Highs
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways The luxury price thresholds rose in all markets, with the top 1% (uber-luxury threshold) rising to $10.4 million in Miami-Dade County. In 2025, the share of million-dollar single-family homes amounted to $24.1 billion, accounting for a phenomenal record-breaking share of 55% of total dollar […]
Southeast Florida Ranks No. 1 in the U.S. For Most Multifamily Construction
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Asking rent growth in the Miami Metro Area rose 0.9% in December 2025 while asking rents fell in most Sunbelt markets where vacancy rates are higher. Southeast Florida has the most intense multifamily construction activity in the nation as of 2025 Q4, with 36,290 […]
Lower Mortgage Rates Drive 14% Sales Surge in Southeast Florida Home Sales
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Southeast Florida’ housing market finished strong in December 2025, with single-family sales up 14.4% year-over-year and 0.2% for the full year following a 3-year decline. In the condominium/townhome market, sales jumped 13.7% year-over-year, with full-year sales declining at a smaller pace of 7.1% […]
South Florida Commercial Sales Volume Jumps to Highest Level Post Pandemic
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Commercial real estate sales of multifamily, office, industrial, and retail real estate in Southeast Florida rose for the second straight year to $16.0 billion in 2025, up 26% from one year ago, the highest level since 2017. Commercial sales rose 32% in Miami-Dade County […]
Domestic Migration to Miami-Dade, Broward Increases with New York Again as Top Feeder State
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Out-of-state driver license exchanges in Miami-Dade County rose 12% from the prior year, with 23,878 driver license exchanges, the second highest level following the pandemic-induced peak in 2021 (23,937). Broward County driver license exchanges were up 6% from the prior year, with 19,892 driver […]
Falling Mortgage Rates Kick Up Home Buying in South Florida
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Single-family sales surged 14.3% and pending sales rose 10.3% in November 2025. Seventy-five percent of local markets saw year-over-year increase in single-family sales. Condominium/townhome sales surged 4.2% and pending sales rose 9.7% in November 2025. Fifty-seven percent of local markets saw year-over-year increase […]