Top Reasons To Invest In The Miami Real Estate Market

• Homebuyers from high-tax, high-density states continue moving to South Florida.

• Miami-Dade County out-of-state driver license exchanges remain up double digits for relocating New Yorkers, Californians, New Jerseyans, and more, according to Q3 2022 data from the Florida Department of Highway Safety and Motor Vehicles (FLHSMV).

• Florida is the fastest-growing state for the first time since 1957 (1,142 net new residents per day in 2022 per U.S. Census)

• Global companies continue relocating to Miami, such as Citadel, a multinational hedge fund that manages $57 billion in assets and is developing a $1 billion Miami office tower with plans to have 1,500 employees in 10 years.

• South Florida has one of the strongest job markets in the country, with 2% unemployment– lower than the national figure.

• Miami prices keep rising (11+ consecutive years of price appreciation) unlike many other major markets and homes keep selling fast (35 days on average).

• Global buyers are returning in mass to America’s top international market.

• Foreign homebuyers purchased $6.8 billion of South Florida residential properties in 2022, up 34% from $5.1 billion in 2021, according to our 2022 MIAMI REALTORS® Global Study.

• Miami’s percentage of cash buyers (42.4%) is significantly higher than the national average (28%). Nearly 60% of Miami-Dade luxury buyers pay all cash.

• Distressed sales are statistically insignificant, reflecting a healthy market.

• Demographic shifts (Millennials reaching prime home-buying age and surging senior/retiree population growth)

• Expansion of remote work benefits Miami because if you can work wherever why wouldn’t you want to live in sunny Miami?