The State of the Real Estate Housing Market in Miami

While our services revolve around supporting moving and storage needs of our customers, it is easy to see how topics such as real estate markets, home buying and decorating, and local activities and neighborhoods can be of interest to both our company and our customers. Today we read an interesting article about certain Miami neighborhoods realizing notable gains in property value and housing prices and thought it might be worthwhile to check in on the state of the real estate housing market in Miami.

There is some good news among the Miami real estate market. Home prices in Leisure City, Princeton and Kendall West have all recently noted remarkable gains, with some home prices up as much as 80% since 2011. For our recent moving customers, this may mean your wise home investment is now performing well for you.

Unfortunately for other areas in Miami, many homeowners aren’t faring quite as well. Nearly 25% of Miami-Dade homeowners are still underwater on their mortgages, which is directly tied to Miami’s ranking of sixth highest foreclosure rate in the country. However, there is also good news on that front as foreclosure filings fell more than 30% in 2015, which is the biggest improvement in the entire country.

Hopefully, these generally positive numbers are signaling a reversal for our beloved Miami. Whether you’re looking to find a new Miami property or need help moving out of your current Miami home, we’re here to help. Contact us for competitive moving rates!