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 […]
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 […]