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, […]
Miami-Dade County Ranks No. 1 for Fastest Employment Growth
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Miami-Dade’s employment growth of 1.1% was the fastest among the 10 largest counties as of the end of 2024. Nationally, employment rose 0.8%. Leisure and hospitality (+2.7%), education and health services (2.2%), and construction (+1. 6%) led Miami-Dade’s employment growth. Average weekly wages rose […]
Miami Ranked No. 1 Office Market in the U.S.
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways The Miami market area posted the lowest office vacancy rate of 15.5% among 25 major markets in April 2025. Nationally, the vacancy rate was 19.7%. The Miami market area also had the highest increase in the average office listing rate, at 15%. Nationally, the average […]
City of Homestead Leads South Florida’s Land Sales Growth of 55% in 2025 Q1
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 55% to 1,512 in 2025 Q1, totaling $1.85 billion, up 40% from one year ago. At the county level, Palm Beach County accounted for the largest land […]
South Florida Cash Buyers More than Two Times the National Figure
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways: Cash buyers accounted for over half of Southeast Florida’s condominium/townhome sales in April 2025. Nationally, 25% of all existing home sales were all-cash sales. Cash buyers accounted for over 65% of million-dollar condominium/townhome sales in April 2025 in the Southeast Florida counties. Cash buyers […]
Thursday, May 22, 2025: South Florida real estate market articles
REALTORS® Shine a Spotlight on Miami Lakes. The Miami Laker’s coverage of MIAMI REALTORS® Miami Lakes City Spotlight https://miamilaker.com/News-Article/realtors-shine-a-spotlight-on-miami-lakes South Florida Single-Family Home Inventory Still Below Pre-Pandemic via MIAMI REALTORS® Chief Economist Gay Cororaton https://www.miamirealtors.com/2025/05/21/south-florida-real-estate-inventory-still-below-pre-pandemic/ Miami ranked No. 1 most expensive office market in the South with asking rents at $56.53/sq. ft., […]
South Florida Single-Family Home Inventory Still Below Pre-Pandemic
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways The inventory of single-family homes for sale in Southeast Florida’s Tri-County area as of the end of May 2025 remains below pre-pandemic levels and are at a healthy level equivalent to 6 months’ supply. Inventory remains tight at the low price-tier with more inventory […]
Miami Ranked No. 11 in U.S. For Largest Population Increase
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Nearly all of Southeast Florida’s incorporated places (105 out of 107) saw a gain in population during July 2023 through July 2024, led by the city of Miami with a population gain of 16,337 people. Population rose at a robust pace of 3.5% outpacing […]