By Gay Cororaton, MIAMI REALTORS + RWorld Chief Economist
Single-family home prices rose at a faster year-over-year pace February-April 2026 in the Miami Metro Area compared to the nation and major Sunbelt markets, according to the latest S&P Cotality Case-Shiller report. Prices rose 1.1% on a year-over-year basis in the Miami Metro area compared to 0.8% nationally based on the non-seasonally adjusted index. The Case-Shiller index is a repeat price index that compares the sales prices against the past sales prices of the same properties.
Download the April 2026 Case-Shiller Index Report HERE.
Among the 20 metro areas tracked by the index, the Miami Metro Area also emerged as the hottest Sunbelt market, outpacing San Diego (1.1%), Charlotte (1.0%), Atlanta (-0.1%), Los Angeles (-0.5%), Dallas (-1.6%), Phoenix (-1.6%), Las Vegas (-1.7%), Tampa (-1.8%), and Denver (-10.9%). Despite some price moderation, the Miami Metro Area still has the highest cumulative price appreciation over the past 10 years, at 7.8%.
Over half, or 11 of 20, of metro areas saw year-over-year price growth, led by Chicago (+6.52%), New York (+3.82%), and Cleveland (+3.18%).
Meanwhile, Seattle (-2.26%), Denver (-1.85%), and Tampa (-1.77%) had the largest year-over-year declines.
The Miami Metro Area continues has continued to experience solid price appreciation due to robust demand particularly in the million-dollar segment and due to tightening inventory conditions.
Year-to-date sales through May rose 6.6% across the South Florida counties of Miami-Dade, Broward, Palm Beach, Martin and St. Lucie. Year-to-date sales of single-family million-dollar homes rose at an even stronger pace of 18%. With new pending sales outpacing new listings, active inventory in May has fallen 20% from the level one year ago. South Florida Housing Market Strengthens as Luxury Sales Drive Growth – MIAMI REALTORS® + RWorld
In May, the median sales prices of single-family home rose or were unchanged from one year ago in all counties: Miami-Dade (0.7%), Broward County (0.8%), Palm Beach County (5.5%), Martin County (6.4%), and St. Lucie County (0.0%). South Florida Market Stats – May 2026 – MIAMI REALTORS® + RWorld
Price Outlook: Sustained Appreciation
Overall, tighter inventory conditions and a more favorable macroeconomic environment ahead due to the normalization of oil prices should help lift home sales and home prices in the months ahead.
Prices are likely to continue to appreciate in the Miami Metro Area where inventory conditions are tightening. Local market policies will also affect prices, like the tax on vacation homes in NYC, that could lead see a shift in demand away from New York to South Florida which has always been an attractive retirement place for New Yorkers. Price are also likely to continue to appreciate in metro areas like Chicago, San Francisco, and San Diego where inventory has tightened, according to data compiled by Realtor.com.
Prices are also poised to recover in most Sunbelt markets that are experiencing robust population growth , such as Dallas, Denver, Phoenix, and Charlotte which posted the highest numeric population gains in 2025. Is Seattle, a resurgence in AI-related employment will tend to firm up home prices.
