Miami’s Real Estate Market Soars to Become One of the Most Valuable in the United States, According to Zillow

In a recent report by Zillow, Miami’s housing market has seen a remarkable surge in value, solidifying its position among the most valuable housing markets in the United States.
Since the onset of the pandemic, the collective worth of homes in the Miami-Fort Lauderdale area has experienced an impressive 86.6% increase. This surge has driven the total value of properties in the region to a staggering $1.25 trillion.
As a result of this substantial growth, Miami has climbed the metropolitan area rankings from ninth place to an impressive fifth place nationwide. New York, Los Angeles, San Francisco, and Boston are the only metro areas boasting more valuable combined total housing markets.
Zillow also reported a significant milestone for Florida’s real estate market earlier this year. During the pandemic, Florida overtook New York regarding the total value of the state’s housing market. Florida’s housing market now boasts a total value of $3.62 trillion, making it the second most valuable state housing market, surpassed only by California.