The Real Deal Miami

Reports: Home prices are up and industrial vacancy rates are down

Home prices jumped 8.5 percent from January 2014 to January 2015

March 04, 2015 10:30AM
By Katherine Kallergis

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Peak-to-current declines including distressed sales

Peak-to-current declines including distressed sales

Home prices are up in Miami-Dade, CoreLogic

Home prices, including distressed sales, jumped 8.5 percent from January 2014 to January 2015. From December to January, home prices increased by 2.1 percent.

Florida was among five states with the largest peak-to-current declines including distressed transactions. The others: Nevada, Rhode Island, Arizona and Connecticut. Home prices also increased nationwide.

Appetite remains strong for well-located Class A space, Cushman & Wakefield

Vacancy rates are down from 7 percent in 2013 to 6.7 in 2014, according to Cushman & Wakefield’s 2015 to 2017 North American Industrial Forecast. Most industrial construction during 2014 occurred in the Airport West, Airport North/Medley, and Airport East submarkets where more than 1.3 million square feet became available — holding vacancy rates steady in that submarket.

The report also found that well-located Class A space, with access to efficient transportation, became increasingly important last year.

“South Florida’s population growth, job growth, tourism demand, construction projects and trade figures are all on a positive upswing,” Cushman & Wakefield senior director Audley Bosch said in a press release. ”Our infrastructure improvements together with a stable and strong regional economy are signs that the South Florida industrial market should remain in growth mode for the foreseeable future.”