Stronger GDP Growth in 2023 Q1 Increases Likelihood Fed Will Resume Rate Hikes
By Gay Cororaton, Chief Economist GDP rose at a much higher annualized rate of 2% in 2023 Q1 based on the third, revised from...
Category : Economic Insights
South Florida Prices Outpace National Trends in May 2023 Bolstered by Tight Housing Supply and Strong Economy
By Gay Cororaton, Chief Economist Home prices in the South Florida counties of Miami-Dade, Broward, Palm Beach, and Martin continue to outpace the national trend...
South Florida’s Home Price Gains Over the Past 10 Years Beats Investing in the Stock Market
By Gay Cororaton, Chief Economist One of the benefits of homeownership is the wealth it brings, mainly through the appreciation of home values. Over...
South Florida Summer Home Sales Could Get a Boost from Fed’s Brief Interest Rate Pause
By Gay Cororaton, Chief Economist Expect a busier summer market with the Fed’s brief pause on its rate hikes before it starts to raise...
South Florida Remains a Fast-Moving Market Compared to Pre-Pandemic
By Gay Cororaton, MIAMI REALTORS® Chief Economist While properties are taking a bit longer to sell compared to the frenzied pace in 2021-2022, South...
87% of South Florida’s Municipalities Have Tighter Housing Supply Compared to Pre-Pandemic Level, Supporting the Home Price Appreciation in Most Markets
By Gay Cororaton, Chief Economist South Florida’s housing supply remains broadly tight compared to pre-pandemic level, supporting sustained price appreciation in this market. As...
Office Occupancy Increases in Miami-Dade in the First Quarter 2023 Amid Economic Headwinds
By Gay Cororaton, Chief Economist Amid the economic headwinds of higher interest rates and tighter financial conditions, Miami-Dade County saw an increase in office...
Out-of-State Driver License Exchanges Still Surging in South Florida in 1Q 2023 vs. Pre-Pandemic Average
By Gay Cororaton, Chief Economist, MIAMI REALTORS® A strong job market, the increased opportunity to work from home, retirement, and the property tax advantage...
Miami-Dade Retains Significant Property Tax Advantage Against High Price New York, New Jersey, and California Counties in 2022
By Gay Cororaton, Chief Economist MIAMI REALTORS® Miami-Dade County continues to retain its real estate tax advantage against several high-cost counties in New York, New...
Mortgage Rates Expected to Decline to 5.5% by Year-End, Saving South Florida Homebuyers as Much as $240/Month
By Gay Cororaton, Chief Economist MIAMI REALTORS® Mortgage rates decreased for the fifth consecutive week in the week of April 13 to 6.27%. I expect...