Two recent reports point to South Florida as an unaffordable region for first-time homebuyers. However, other recent data suggests the Miami metro is a top buyer's market where individuals are actively buying in the lower tier price points. In a recent study by Nerdwallet no South Florida city was among the top 50 most affordable markets for first-time buyers. The best ranking and most affordable South Florida market was the Edgewater submarket of Miami, which is north of downtown. The market is said to have a concentration of relatively affordable but undesirable single-family homes. In a separate report from SmartAsset no city in South Florida ranked among the top 25 most affordable beach towns in the nation. Buyers may find themselves with negotiating power While considered...
- No South Florida housing market ranked in the top 50 in terms of affordability for first time homebuyers.
- Zillow ranked the Miami-Fort Lauderdale as the sixth best buyer's market in the nation.
- Stats from various sources differ when it comes to sales-to-list price ratios.