Miami named one of the cities with the best real estate prospects in 2023
Miami ranks among the 10 American cities with the best overall real estate prospects in 2023, according to the Emerging Trends in Real Estate report by PwC and Urban Land Institute.
The 44th edition of the in-depth forecast report examined 80 cities to determine trends in the real estate industry for 2023.
Miami placed No. 7 on the overall best prospects list. The city was grouped in the Super Sun Belt category, described as among the fastest-growing markets in the U.S. with “solid” economic performance and recovery. Fort Lauderdale was No. 22 on the list.
Miami was No. 19 and West Palm Beach was No. 20 on the report’s list of cities with the best homebuilding prospects.
“Reinforced in this year’s Emerging Trends is the dominance of magnet markets, many of which are in warmer Sun Belt regions,” PwC reported. “They top the Emerging Trends Markets to Watch standings, while the number of markets in cold-weather climates in the Northeast and Midwest decline in ranking.”
According to the report, the 20 cities with overall best real estate prospects in 2023 are:
- Dallas/Fort Worth
- Tampa/St. Petersburg
- San Diego
- San Antonio
- Northern New Jersey
- Washington, D.C./Northern Virginia
- Salt Lake City
- Los Angeles