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 […]

Florida is Top Destination of Out-of-State Movers in 2023 

Florida is Top Destination of Out-of-State Movers in 2023 

  Florida is Top Destination of Out-of-State Movers in 2023 By Gay Cororaton, MIAMI REALTORS Chief Economist    Florida topped all states with the most out-of-state movers in 2023, according to MIAMI’s analysis of the US Census Bureau’s 2023 State-to-State migration data. In 2023,there were 636,933 people who lived in Florida who had resided in […]

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 […]

South Florida Homes Continue to Sell Faster than Pre-Pandemic Era 

  By Gay Cororaton, MIAMI REALTORS Chief Economist Southeast Florida Housing Metrics July 2024 While homes are staying on the market longer compared to one year ago, properties are still selling faster compared to 2019 in Southeast Florida. In July 2024, single-family homes were typically on the market for about a month in Miami-Dade (29 […]

Pet-Friendly Multifamily Rentals Typically Rent Out for More and in Faster Time 

  By Gay Cororaton, MIAMI REALTORS Chief Economist During the pandemic, about one in five households or an estimated 23 million households adopted pets. However, pet adoption is waning, resulting in overcrowding in pet shelters. In Miami-Dade County, overcrowding has reached a crisis level such that  the county was forced to close its animal shelters […]