The Real Deal New York

SoFla Market Report: Experts warn about a mild recession, $47 million sale in Key Biscayne sets a record … and more

February 23, 2016 12:16PM

An estate in Key Biscayne sold for $47 million

An estate in Key Biscayne sold for $47 million

From the February issue: Despite high confidence among prominent Miami developers that the real estate market is not due for a significant downturn in 2016, some experts are cautioning that sales will continue to dip, which could possibly ignite a mild recession by the end of the year.

“We are going to see prices continue to appreciate through the first half of year, but at a much slower pace,” said Jack McCabe, founder and CEO of McCabe Research and Consulting. “In the last half of the year, we will see prices flatten, increases in inventory and slowing demand from buyers.” [more]