There are very few cities in the United States with “meaningful” condo development, one analyst says, but Miami is definitely one of the few.
Statistics from the Census show that the numbers for national multifamily condos returned to their normal levels in 2014 with 356,000 units starting their construction. Traditional condo activity stayed at its typical low levels.
28,000 units out of the many that have begun construction were for sale during 2014. Even though that statistic is up about 100% from 2010, it is still below what would be considered “normal” today.
Approximately 20% of multifamily units across the United States are actually for sale. The numbers average out to about 60,000 per year between 1992 and 2002.
The data showing specifics about Miami in 2014 were not split up nor explained in detail.
Source: thenextmiami.com
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