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Miami-Dade County Analysis of Current Economic Trends
The Miami-Dade Analysis of Current Economic Trends report is a quarterly publication that identifies local short-term economic trends and current economic conditions. The reports cover key Miami-Dade economic indicators such as employment and unemployment, existing home sales and prices, foreclosure activity, commercial real estate vacancies and leasing rates, taxable sales, and international trade & tourism activity.
The reports provide the latest data releases and at least 12 months of historical information, along with an analysis of the forces driving short-term economic trends.
The Fourth Quarter report (October through December 2014), released in March 2015, shows that by nearly all broad measures, the Miami-Dade economy is strong. Some key trends, based on industry reports, include:
- There are 44,200 fewer residents unemployed in Miami-Dade County than there were three years ago;
- Businesses located in Miami-Dade County now employ 90,300 more employees than they did just three years ago;
- Median prices of single family homes are 6% higher than they were one year ago and 40% higher than they were three years ago;
- Median prices of condo and townhomes are 8.6% higher than they were one year ago and 53% higher than they were three years ago;
- Office vacancy rates in Miami-Dade County have dropped 3% over the last three years and lease rates are up 3.5% from three years ago;
- Consumer spending is up as total taxable sales have increased 13% over the last three years.
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