5 Reasons Florida’s Real Estate Market Isn’t Done Growing

South Florida has been making headlines recently for its impressive housing market growth. The most recent data from Zillow shows that out of the 100 largest US metros, the Miami/Fort Lauderdale area ranks #5 in year-over-year average rent price increase (+24.71%). They also rank #5 for YOY median sales price increase at +23.34%.

As a result of these surging prices, Miami’s income to housing cost ratios are now as high as some of the most expensive markets in the country. As a result, some industry experts are predicting the South Florida housing market to cool in 2022. While it’s unlikely that South Florida will sustain the same price growth margins as last year, there’s plenty of evidence that suggests the metro’s market momentum may push through 2022.

Here are 5 reasons why South Florida’s housing market will stay hot in 2022: