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Insight 2022 Mid-Year Market Report

It’s exciting to share our expanded EWM Insight 2022 Mid-Year Market Report with you. It’s packed with a lot of great up-to-the-minute information on Miami-Dade, Broward and Palm Beach Counties.

As we take a look at South Florida’s residential real estate market for the remainder of 2022 and into 2023, it’s easy to see that we went from plummeting inventories in 2020 and 2021 to dramatic increases thus far this year. This of course fuels fear of a housing ‘glut’ of new inventory. Nothing could be further from the truth!

As we know, the #1 metric in real estate is the number of Months of Supply. And while inventory has indeed increased (and it has needed to!), you will see that overall inventories are still very low in comparison to the optimum range of 6 to 9 months of available supply for all price ranges — and 12 to 18 months for properties priced over $1 million. However, we need to keep a close watch on this very important metric, as it is expected to grow over the months ahead. 

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Our agents write often to give you the latest insights on owning a home or property in the local area.