November 27, 2017
According to a new Zillow report which calculated the nation’s largest metro areas, the median home value in Miami rose by 7 percent; a little more than the national average year over year.
Nationally, home values rose by 6.5 percent over the past year. In Miami, the median home value rose 6.8 percent, which equates to an approximate $16,400 increase. Meanwhile, inventory decreased by about 1 percent. The same study found median rents across the nation rose 2.2 percent to $1,432 per month while Miami rents decreased 1.5 percent to $1,848 per month.
The metro area with the biggest increase in terms of home value is San Jose, which experienced a significant 12.3 percent spike year over year. Seattle came in second place at 11.7 percent, and Las Vegas rounded out third place with a home value increase of 11.2 percent.
Source: Curbed Miami
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