After the outbreak of the pandemic era, when millions of Americans began to flock to the "sunny state", the housing boom in Florida began to weaken. At the same time, over the past three years, the cost of a single-family home in Florida has increased by almost 50%. This is due to the fact that both US residents and expats sought to acquire real estate in the south of the country.
Now, for the first time in 2021, housing prices have leveled off. Fewer people who want to buy a home in the United States choose Florida - due to a noticeable decrease in affordability. However, the time for investing in real estate is still right. In Florida, you can find affordable housing, but the price increase will continue, as well as for rent.
According to the data, 56% more people migrated to Florida this year than left. Miami has become the most desirable place for New Yorkers. It has also gained a reputation as a city offering the most luxurious real estate. So, one of the most expensive mansions on the US market is now available in Miami for a record $85 million.