South Florida Housing Market Cooling
Key Questions
How much have home sales declined in South Florida compared to the 2021 peak?
Sales have dropped 37% since the 2021 peak. Luxury homes priced at $1M and above are leading the current recovery.
What impact are changes to the Live Local Act having on housing development?
Tweaks to the Live Local Act are accelerating multifamily builds across the region. This is helping address some supply shortages in South Florida.
Why is rapid growth in corridors like 34987 raising affordability concerns?
New development in areas like 34987 is expanding quickly in Miami-Dade, Broward, and Palm Beach counties. This growth is prompting questions about long-term housing affordability for residents.
Sales dropped 37% since 2021 peak; luxury $1M+ homes lead recovery while Live Local Act tweaks accelerate multifamily builds. Rapid growth in new corridors like 34987 raises affordability questions for Miami-Dade/Broward/Palm Beach.
Sources (2)
Updated May 20, 2026