Single family home prices in Miami-Dade County increased 1.3 percent month-on-month in July and 7.9 percent in the last year, according to a new report from CoreLogic. In June, prices grew just 0.3 percent month-to-month and 6.7 percent year-over-year, marking the year’s smallest appreciation in price. July marked a noticeable rebound for the county.
“Low mortgage rates and stronger consumer confidence are supporting a resurgence in home sales of late,” wrote Anand Nallathambi, president and CEO of CoreLogic. “Adding to overall housing demand is the benefit of a better labor market which has provided millennials the financial independence to form new households and escape ever rising rental costs.”
