Based on new data from national property broker Redfin, prices of condos in major Florida metros are dropping year-over-year in early 2024, as sales decline. New condo listings inventory is soaring as sellers try to offload their properties.
Miami Realtors are reporting this week that greater Miami-Dade County total home sales and total dollar volume rose year-over-year in January 2024, as South Florida real estate continues to outpace the nation even as mortgage rates return to the 7% range.
According to new data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in December 2023 in the U.S. increased 8.0% to a 664,000 seasonally adjusted annual rate from an upwardly revised reading in November 2023.
Based on new data from the Miami Association of Realtors, greater Miami area single-family home sales increased 1.3% year-over-year in December 2023, from 744 to 754.