Miami-Dade Office Sales Rise; South Florida Commercial Fundamentals Strong
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Amid rising macroeconomic risks and geopolitical uncertainty, commercial sales volume in the first quarter of 2026 Q1decreased 1% from one year ago to $2.86 billion. Palm Beach County bucked the decline with commercial sales volume up 80% to $650 million, while sales fell 13% […]
Miami Sees Double-Digit Spike in Domestic Migration; New York, California, and Texas Lead Inflows
By Gay Cororaton, MIAMI REALTORS Chief Economist South Florida continues to see strong out-of-state migration in 2026 Q1 compared to one year, based on driver license exchanges from out-of-state movers, according to Miami Association of REALTORS® (MIAMI) analysis of Florida Highway Safety and Motor Vehicles data. New residents must exchange their out-of-state license […]
Palm Beach County: #1 in the Nation in Net Inflow of Income from Domestic Migration Per Latest IRS Tax Data
Gay Cororaton, Chief Economist Key Takeaways: Palm Beach County is #1 in the nation with largest net flow of income due to domestic migration totaling $22.7 in total from 2019-2023. Florida is the #1 state with largest net income inflow due to domestic migration totaling $137 billion during 2019-2023. Florida is #2 in the […]
Miami Dominates Sunbelt Rental Markets in New Report
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways: Multifamily asking rents rose 0.6% year-over-year in February 2026 in the Miami Metro Area while rents declined in most major Sunbelt markets. High-income renters are supporting the demand for upper tier rentals (B+, A+), with rents up year-over-year in South Florida’s priciest urban core […]
South Florida $1M & Up Home Sales Hit All-time Highs
By MIAMI REALTORS Chief Economist Gay Cororaton Key Takeaways South Florida home sales rose for the second consecutive month in February 2026, up 5.4% overall. Sales of million-dollar single-family sales rose at a robust year-over-year pace of 17.8%, while condominium/townhome sales rose 21.6%, for an overall increase of 18.8%. 3.Year-to-date million-dollar sales through […]
Miami Beach Ranked #2 Largest Vacation Home Market in the U.S.
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Dollar sales volume rose 6.5% in 2025 in South Florida’s 25 vacation home markets, outperforming the 0.2% increase in non-vacation markets. The median sales price in South Florida’s vacation markets rose 6.7% while the median price decreased 8.3% in non-vacation markets. Cash buyers accounted […]
Geopolitical Tensions Could Push Mortgage Rates to Near 7% in 2026
By MIAMI REALTORS Chief Economist Gay Cororaton Key Takeaways Geopolitical tensions that have pushed oil prices to over $100/barrel could push inflation to an average of 3.7% and the 30-year mortgage rate to an average of 6.8% in 2026. Rising mortgage rates will set back the housing market recovery to 2027. Million-dollar buyers […]
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 […]