Category : Economic Insights
By Gay Cororaton, MIAMI REALTORS® Chief Economist Miami-Dade County’s population increased year-over-year in 2022, according to new U.S. Census Bureau population estimates.[1] Miami-Dade is...
Mortgage Rates Likely to Hover at 6.5% to 7% Through End of 2023 Given Resilient Economy and Tight Labor Market
By Gay Cororaton, Chief Economist Mortgage rates are likely to bounce around the 6.5% to 7% range through the end of the year as financial...
South Florida Homes Sales Prices Rise to New Record Highs in June 2023
By Gay Cororaton, Chief Economist For the first time, the South Florida counties of Miami-Dade, Broward, and Palm Beach all hit new record highs...
South Florida Driver License Exchanges Rose 18% in 2023 Due to International Migration
By Gay Cororaton, MIAMI Chief Economist The number of out-of-state and foreigners who exchange their driver licenses for a Florida license is an indicator...
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...
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...

