A new study confirms the latest chatter from real-estate watchers: Miami’s sizzling downtown condo market is cooling down.
Skyrocketing construction costs, overheated land prices and falling foreign currencies have finally caught up with a housing market that boomed after the lean years of the recession.
But unlike the last go-around, when highly leveraged projects brought the house of cards tumbling down, few observers expect a crash.
One sign of the current cool-down: the growth in resale prices for downtown condos is slowing.