Knight Frank forecasts market prices to jump 5% next year

Miami-Dade continued to grow in 2023, according to drivers license exchange data.

A new oceanfront development, Rivage Bal Harbour was unveiled in January 2023 by industry leaders Related Group, Two Roads Development, and Rockpoint. The condominium property is made up of 61 sky villas located in one of South Florida’s most exclusive enclaves and has come to fruition from an all-star design team with Skidmore, Owings & Merrill (SOM) leading architecture and Rottet Studio leading the interior designs.

The Fed’s ongoing inflation fight—which saw mortgage rates spike from 3% to 6% in 2022—has set off the second biggest home price correction of the post-WWII era.

At 6.09%, the 30-year, fixed-rate loan moved even closer to 5%. It’s down from last week’s 6.13% and almost a point lower than highs of 7.08% reached in Oct.