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 […]
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% […]