Miami Beach Real Estate News
Miami Beach
Miami Leads the Nation in Rising Home Prices, Up 17 Percent Annually in August
National property broker Redfin is reporting that the median home-sale price in Miami rose 17% from a year earlier during the four weeks ending August 27, 2023, the biggest increase the metro area has seen since October 2022.
U.S. Labor Day Weekend Travel To Uptick in 2023
Based on new projections by AAA booking data for flights, hotels, rental cars, and cruises shows Labor Day weekend travel in 2023 is up over last year: domestic bookings are up 4% and international bookings are up 44%.
Miami Residential Sales Dip 13.6 Percent Annually in July as Prices Still Rise
Based on new data by the Miami Association of Realtors, Miami-Dade County area total home sales decreased 13.6% year-over-year in July 2023, from a historic 2,375 transactions in July 2022 to 2,051 in July 2023, because of elevated mortgage rates and lack of supply in certain price points.
Mortgage Applications Dip in Late July
According to data from the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending July 28, 2023, U.S. mortgage applications decreased 3.0 percent from one week earlier.
