South Florida Boasts Robust Rental Demand and Climbing Occupancy Rates
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Rising rental occupancy lifts in-place rents by 2% in the Miami market area and 2.3% in the Port St. Lucie market area. However, completions coming into the market are putting a downward pressure on rent growth and on landlords offering concessions, with 10% of […]
Lower Mortgage Rates and Rising Out-of-State Migration to Spark South Florida Home Sales
By MIAMI REALTORS Chief Economist Gay Cororaton Key Takeaways A continuing decline in mortgage rates to 5.8% by the end of 2026 and 5.7% by the end of 2027, robust wage growth, and an uptick in migration will underpin the recovery of home sales in 2026 and 2027. Southeast Florida’s single-family home sales […]
Washington Leads Top States with Highest Annual Salary Moving to Miami
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Out-of-state job movers typically earn more in the destination job in the Miami Metro Area than in-state job switchers, led by job movers from Washington ($190,656), and California ($186,004) in 2024 Q2 (latest data). Health care, professional/technical, and finance jobs are increasingly accounting for a […]
New York Counties Continue to Lead Migration Into Southeast Florida
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways New York counties (New York County, Nassau County, Suffolk County) and Los Angeles were the top out-of-state origins of movers to Southeast Florida in 2025 Q2. A widening tax differential between Florida and New York could further bolster the migration of New Yorkers, particularly in […]
40 Southeast Florida Cities Have a $1 Million+ Median Home Sales Price
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Forty Southeast Florida areas now have a median sales price of $1 million or more, up from 17 areas in 2019, with Boca Raton as the largest million-dollar market. Year-to-date million-dollar sales accounted for 25% of sales in Miami-Dade, up from 8% during the […]
Miami is America’s Leader in Apartment Construction and Rents on Larger Buildings Are Increasing
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways The average rent per unit in buildings with over 50 units rose at a modest year-over-year pace of 0.8% in the Miami market area as completions outpaced net absorption. Workforce rental housing rents rose faster at 2.7% while rents in higher tier rental units […]
Southeast Florida Single-Family and Condo Sales Surge Double Digits Year-over-Year
By MIAMI REALTORS Chief Economist Gay Cororaton Key Takeaways: Single-family and condominium/townhome closed sales surged a remarkable 13% across all five Southeast Florida counties in September 2025, with the million-dollar segment accounting for the largest increase in single-family home sales. Pending sales rose 9%. The median single-family sale prices rose in the counties […]
Fort Lauderdale Ranked. No. 1 in Multifamily Investment Profitability
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Fort Lauderdale led 30 market areas in multifamily investment profitability, with the highest cap rate of 6.3%, according to Yardi Matrix. Net absorption in the first three quarters of 2025 outpaced new deliveries of multifamily units in the Fort Lauderdale market area, resulting in […]
Miami-Dade County Land Sales Surge; Fueled by Population and Job Gains
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Land sales in Southeast Florida rose to $4.8 billion in the first three quarters of 2025, up 3% from one year ago. Miami-Dade County land sales drove the increase, with $2.1 billion in sales, up 111% from one year ago. The median land residential […]
Southeast Florida Commercial Sales Volume Rose 18% to $9.6 Billion in 2025 Q1-Q3
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Commercial sales rose to $9.6 billion in the first three quarters of 2025 in the counties of Miami-Dade, Broward, and Palm Beach, up 18% from one year ago. Miami-Dade County had the largest sales volume ($4.4 billion, +30%), but Broward County posted the highest […]