Good news for Miami-Dade owners - values staying flat, the sky has not fallen (yet?)
I just read Home Prices Fall in Broward, are Flat in Dade today on the Miami Herald website. This information backs up the recent research I have conducted which shows that low- and mid-end are still healthy. The dearth of quality housing below $500k is the reason I would point towards for this.
Historically Miami has had a perennially strong market, a look back to the ’80s show when the rest of the country was seeing double digit drops in value Miami-Dade was steady at +.05% and so far we are seeing this trend continue - with a caveat for owners with property values well above the median. These folks are already being hit hard with prices falling to preconstruction rates and no assurances this is the bottom.
