September 18, 2013
The economy in South Florida is growing at 3.5 percent, with real estate being the largest contributor to growth. The 3.5 percent increase was the largest since 2006 and well ahead of the national metropolitan average of 2.5 percent.
In 2012, real estate activity accounted for 31 cents of every one dollar added to Miami-Dade, Broward and Palm Beach’s combined 274 billion dollar economy. Last year, real estate contributed 52 billion dollars to the area’s economy, which was an 8.4 percent increase from 2011.
Rising property values and new construction in South Florida are driving the real estate surge. After real estate, other economic growth engines include trade, finance and retail, respectively.
Source: Miami Herald
