New Merger Benefit: South Florida Housing Market Report

South Florida’s housing market continued to show strength and momentum in July, with sales up for the 11th consecutive month in both single-family and condo/townhome segments. Million-dollar sales continued to increase at a double-digit pace. Single-family prices rose to their highest July levels as inventory continued to decline as sales outpacing new listings. This momentum is likely to continue, driven by an acceleration in out-of-state migration from high-tax states and net job migration in higher-paying professional/tech services, health care, and finance jobs. Expect South Florida's housing market to continue to shift to a seller's market and prices to continue to firm up.