Home prices
Bidding wars are raging as desirable houses within an affordable price range are getting hard to find. Indeed, in Miami Dade, fueled by foreign cash, the median price for a single-family home has gone up by 7% between 2014 and 2015 for similar periods, from $243,000 to $260,000.
As rental prices keep on rising, it makes more financial sense to purchase a unit. It is a nationwide trend too: housing becomes less affordable for Americans whose wages have only risen by 2.6% since last year. As a comparison, the midpoint price for a house has risen 4 times faster than the average wage growth. Houses are simply getting pricier. Read the rest of this entry »
Miami Real Estate Blog 