Southeast Florida Housing Permits Up 14% in the First Half of 2025 Bucking National Decline of 2%
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Housing units authorized in the first half of 2025 in Southeast Florida rose 14%, bucking the 2% national decline. The annualized authorized units per 1,000 existing housing units were higher than nationally (9.9) in Miami-Dade County (13.8), Martin County (12.5), and St. Lucie County (29.6) […]
Miami-Dade Home Equity Gains Nearly 2X National Figure
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways The expected home equity on a single-family home purchased 15 years ago at the median sales price and valued at the median sales price as of 2025 Q2 is around $500,000. Over the past 15 years since the Great Recession, Southeast Florida’s price appreciation […]
South Florida Homebuyers: More Global, Diverse, and Wealthier Than U.S. Average
By Gay Cororaton, MIAMI REALTORS Chief Economist MIAMI Association of Realtors® (MIAMI) latest Profile of Homebuyers in Southeast Florida Report validates the narrative that MIAMI’s homebuyers are more global, racially diverse, more well-educated, and wealthier than homebuyers in Florida and the nation. MIAMI’s research is based on the latest available Census data. Census […]
14 Consecutive Years of Home Price Appreciation for Miami Real Estate
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Halfway through 2025, home sales were lower from one year ago in all Southeast Florida counties, with buyers seemingly holding out for lower mortgage rates. Despite the slower sales, the median sales prices in Miami-Dade County rose in June 2025 from one year ago […]
Miami Metro Rent Growth Outpacing Most Sunbelt Markets
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Multifamily asking rents rose at a stronger pace in June 2025 in the Miami Metro Area (1.6%) and in the Port St. Lucie Metro Area (3.9%) compared to most Sunbelt areas. Single-family asking rent growth in the Miami Metro Area (2.5%) and in the […]
South Florida Land Sales Surge: Leading Indicator of Future Real Estate Development
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Sales of residential, commercial, and industrial land in the counties of Miami-Dade, Broward, and Palm Beach rose to $3.56 billion in the first half of 2025, up 14% year-over-year. The median sales price per square foot rose at a double-digit pace: residential ($116/sf, +16%), […]
South Florida Commercial Sales Jump Double Digits in First Half of 2025
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Commercial sales volume rose 10% to $5.6 billion in the first half of 2025 in the counties of Miami-Dade, Broward, and Palm Beach. The strong growth in office assets ($1.4 billion, +110%) and multifamily ($2 billion, +5%) bolstered sales. Broward County landed the largest […]
Southeast Florida Housing Outlook June 2025 Update: Home Sales Rebound in 2026 as Mortgage Rates Decline to Below 6%
Gay Cororaton, Chief Economist A decline in mortgage rates, the increase in state and local tax (SALT) deduction cap from $10,000 to $40,000, and the implementation of a new condo law (HB 913) that eases the financial burden for condo owners and prospective buyers underpin a projected rebound in home sales in 2026. Download […]
Miami-Dade Out-of-State Driver License Exchanges Are 22% Above Pre-Pandemic
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Out-of-state driver license exchanges in Miami-Dade County are 22% higher in the first half of 2025 compared to the same period in 2019. Out-of-state driver license exchanges in Miami-Dade County rose 1% from one year ago, bucking the overall decline in Florida driver license […]
Miami-Dade Median Single-family Home Price Rose for 162nd Consecutive Month
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Southeast Florida single-family home sales fell in May 2025 amid elevated mortgage rates and a tight supply of affordable homes. Million-dollar homes single-family months’ supply is rising but is still below pre-pandemic level. Median single-family sales prices rose in Miami-Dade County, Palm Beach County, […]