Miami real estate bombed its physical, ranking 280th — the 7 percentile — among 300 U.S. cities studied by WalletHub to decipher the most and least attractive real estate markets.
Among the 16 categories used were "Average Number of Days Until Sold" and "Foreclosure Rate," with seven of the top 10 cities coming from Texas.
Florida’s highest rated cities were Davie, Boca, and Pembroke Pines, which came in 154th, 163rd, and 166th, respectively. Miami ranked 58th among large cities.
Health of Miami’s Real-Estate Market (1=Best; 150=Avg.):
221st – % of Homes with Negative Equity
277th – Average Number of Days Until a House Is Sold
193rd – Median Home-Price Appreciation
268th – Foreclosure Rate
246th – % of Mortgage Holders in Delinquency
279th – Number of Unsold Homes Owned by Banks (REOs)
269th – Home Price as a % of Income
211th – Unemployment Rate
253rd – Population Growth Rate