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Back HomeHere’s what experts say 2023 holds for Miami real estate
Miami shows no signs of a market crash. Here’s what experts say to expect instead.
1. The market will hold strong.
Home sales prices could take a hit if mortgage rates were to continue surging, but that doesn’t seem to be the case.
2. Demand won’t go anywhere.
Fernando Arencibia Jr., CEO of Arenci Properties Realty, says demand should stay strong in 2023. “South Florida real estate is unique from other U.S. markets in that we continue to see high in-migration domestically and internationally,” he says.
- If mortgage rates do increase later this year, the number of inbound movers and cash buyers should be enough to shield South Florida from crashing home prices.
3. Buyers will feel relief.
Even if home prices continue to appreciate, Arencibia Jr. predicts conditions will be calmer for buyers.
- It’s likely buyers will have more choices and have a little more negotiating power as the market balances out.
© Jackson Lieblein, LLC 2015.
