Category : Economic Insights
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...
Seller Concessions Rise Year-over-Year as Market Slowly Shifts Toward a Balanced Market
By Gay Cororaton, Chief Economist, MIAMI Realtors® Seller concessions are the costs the seller agrees to pay to assist the homebuyer and move the listing...
Homeowners in the City of Miami See Highest Increase in Home Values Among 20 Major Cities in January 2023
By Gay Cororaton, Chief Economist, MIAMI Realtors® Homeowners continue to see the strongest increase in their home values in the city of Miami among...
South Florida home sales expected to continue to increase through 2023 as mortgage rates decline
By Gay Cororaton, Chief Economist, MIAMI REALTORS® Mortgage rates fell for the second consecutive week to 6.42%. Rates fell following the Fed’s decision to increase...
Selective Lending Conditions Will Tend to Favor South Florida’s Real Estate Market
By Gay Cororaton, Chief Economist, MIAMI Realtors® One potential effect arising from the takeover by regulators of two regional banks is credit tightening and more...
Miami-Dade’s Out-of-State Homebuyers Earn Nearly $100K+ Median Household Income
By Gay Cororaton, MIAMI REALTORS® Chief Economist Out-of-state homebuyers relocating and purchasing South Florida real estate has significantly increased since 2019. South Florida’s growth as...
50,600 more real estate jobs in February 2023 in contrast to Great Recession job losses
By Gay Cororaton, MIAMI REALTORS® Chief Economist Real estate industry[1] payroll jobs rose nationally in February 2023, with 50,600 more jobs compared to one...

