At 2. 4% in december, the miami area unemployment rate is one of the lowest in florida and the u. s. South floridas economy will continue to perform above the national average in 2024,. We anticipate that floridas economy will remain strong and that residents, businesses, and domestic and international capital will continue flowing into the state. Over 29,000 units are currently under construction in the miami metro, representing roughly 15% of existing inventory. Over 40% of the supply underway is in the downtown miami area.
Economic growth in the first quarter of 2024 appears to be on a rosy trajectory.
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