South Florida Office Market Ranks No. 1 in Construction Intensity and Leads U.S. in Tight Vacancy
By MIAMI REALTORS + RWorld Chief Economist Gay Cororaton Key Takeaways West Palm Beach-Boca Raton Market Area and the Miami Market Area have the most intense office construction as a percentage of existing office stock among the nation’s 25 largest markets. As of April 2026, 4.68 million square feet of office space is […]
South Florida Affordable Housing Construction Surges Under Live Local Act
By MIAMI REALTORS + RWorld Chief Economist Gay Cororaton As of April 2026, roughly 37,200 units are under construction in South Florida, of which 38% of total units are in Fully Affordable buildings (all residents must meet income criteria) or in Partially Affordable Buildings (some residents need to meet an income criteria). Miami-Dade […]
Wealth Migration Continues to Drive South Florida’s $1M+ Housing Boom
By MIAMI REALTORS® + RWorld Chief Economist Gay Cororaton Key Takeaways Sales that went under contract in April (pending sales) rose 12% year-over-year, the 9th consecutive month of y/y growth . Sales contracts on million-dollar homes rose at an even stronger pace of 29%, the 11th consecutive month of y/y growth. “Million-dollar […]
Port St. Lucie Leads the Nation as America’s Fastest-Growing City
By Gay Cororaton, MIAMI REALTORS® + RWorld Chief Economist For the 5th consecutive year, Port St. Lucie had the fastest population growth among the nation’s 91 largest cities (population of at least 250,000), according to MIAMI REALTORS® + RWorld analysis of the US Census Bureau’s Vintage 2025 population estimates. Over the period July […]
Wealth and Population Growth Push South Florida Land Sales to Six-Year High
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Sales of non-agricultural land in South Florida rose to a high of $7.2 billion in 2025, up 7%. Residential land accounted for 79% of sales. The median sales price of residential land rose to $101 per square foot, up 6% from the prior year […]
South Florida Home Equity Now 1.6x U.S. Average
By MIAMI REALTORS Chief Economist Gay Cororaton Key Takeaways Single-family homeowners who purchased a home 15 years ago in 2011 Q1 have over $500,000 in housing wealth in Miami-Dade County ($589,400), Palm Beach County ($542,800), and Broward County ($509,300), higher than nationally ($308,400). Condominium/townhome owners who purchased a property 15 years ago typically […]
Miami Climbs to 3rd in Monthly Home Price Growth Across Top U.S. Metros
By Gay Cororaton, MIAMI REALTORS Chief Economist The Miami Metro area’s price growth outpaced the nation’s major Sunbelt market in February, according to the latest S&P Cotality Case-Shiller index. In February, the Miami Metro price index (seasonally adjusted) rose 0.8% from the prior month, the third highest among 20 metro areas (next to […]
Miami-Dade Luxury and Ultra-Luxury Price Thresholds Rise as Global CEOs Relocate
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Luxury (top 5%) and ultra-luxury (top 1%) price thresholds rose in 2026 Q1 in Miami-Dade, Broward County, and Palm Beach County. In Miami-Dade County, the single-family luxury threshold rose to $4.1 million while the ultra-luxury threshold rose to $13.6 million. Facebook’s Mark Zuckerberg, Google’s […]
Miami Metro Multifamily is #1 in Occupancy and Rent Growth Among Large South Region Metro Areas
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways In March 2026, the Miami Metro Area had the lowest multifamily vacancy rate at 6.6% and the highest asking rent growth at 0.7% year-over-year among the largest South Region metro areas. Rents rose in 56% of South Florida submarkets. Rent concessions and migration of […]
South Florida Real Estate Continues to Outperform the Nation
By MIAMI REALTORS Chief Economist Gay Cororaton Key Takeaways Homes that went under contract in March (pending sales), a leading indicator of closed sales, rose 9% year-over-year, the 8th consecutive month of y/y growth . Million- dollar pending sales rose at an even stronger pace of 24%, the 10th consecutive month of […]