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, […]
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 […]