Miami’s housing-price bubble – in one easy chart
Recently released data from the Federal Housing Finance Agency shows that residential prices in South Florida shot up almost 300%, from early 2000 to the peak of the bubble. The good news – housing prices in South Florida appear to have stablized to pre-bubble levels of 2003. Rental prices in Miami continued to rise due to rising demand, and virtually no new inventory. Rental increases vary from building-to-building, and location, but the most recent lease-data suggests 5%-10% annual increases are typical – again, depending on location and the individual property.