All real estate is local! 

Yes, in some parts of the country real estate values have declined from their peak last summer. One exception is the Miami Metro area.  Most metro areas are still showing year over year increases in value, even though many are off their peak levels. Here is the latest reporting from Zillow's Home Value Index through Feb 2023.

See how San Francisco is down 9.96%, Austin TX is down, Phoenix, AZ is down 7.13% and Las Vegas, NV is down 6.72% from their peak levels. Then look at Miami and prices are still at their peak and 13.47% higher than a year ago. When you hear national reports on weakness is housing demand, just remember, all real estate is local and some markets, like South Florida are still quite robust. After nearly a year of rapidly increasing interest rates, all but three markets have year over year advances. 

Subscribe to my newsletter here.

Serving The Greater Fort Lauderdale area since 2006

You can reach me 954-895-2431

If You Like This Post, Please Share. Thanks!