According to a study from SmartAsset, in the past 3 years, Millennials (people between the ages of 20 up to 34) are moving out of Miami. This has created a negative net migration of this population group, meaning that more millennials are moving out of the city, compared to the ones moving in.
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Miami’s market outperforming the US!
Although being hit by one of the biggest crisis, the Miami’s housing market is now outperforming the nation. I know it is hard to believe but in 2011, the average number of sales in the US has increased by 2% whereas Florida’s market has increased by 15%. Unfortunately I don’t have the stats for Miami Beach but I am sure the increase is even more drastic. Read the rest of this entry »