The idea of real estate being local is so important to keep in mind, especially when reading news headlines. Headlines reporting on the national real estate market read “Home prices post broad-based slowdown in September” or something similar. While there is nothing untrue about the statement, if you are a buyer interested in Miami and don’t read further, you could wrongly assume that Miami’s real estate appreciation has also slowed. However, that same article states Miami “continues to impress with another double-digit annual gain of 10.3%. It is the only city that currently has a year-over-year double-digit gain.”
Although there is more inventory on the market and the appreciation has slowed somewhat, appreciation is still strong in Miami due to continued interest from investors and second home buyers.