The Miami Beaches market was hindered both on the supply side, by extremely low inventory, and on the demand side by rising interest rates.
Tag: South Florida
Q4 brought a significant rise in active listings — and prices — in a market recently known for its low inventory and high demand.
The Miami Beaches market was hindered both on the supply side, by extremely low inventory, and on the demand side by rising interest rates.
Demand was active in Palm Beach. However, sales fell 44% annually from a record-breaking 2Q, returning to pre-pandemic levels.
Demand was active in Palm Beach. However, sales fell 44% annually from a record-breaking 2Q, returning to pre-pandemic levels.
The housing market in Miami Beach remains incredibly active for interested buyers, even while supply diminishes.
Undeterred by higher mortgage rates, buyers continued to seek more space and second homes in Palm Beach and bordering communities.
All signs pointed towards a stronger and more attractive Miami Coastal Mainland market, with most trends echoing those in the Miami Beaches.
A spike in buyer demand plus the strong economic recovery, still-low mortgage rates and favorable taxes continue to drive this market.