This Week in Miami Real Estate: Housing demand, MLS changes and more

by Evi Arthur

Miami needs 50,000 homes to meet housing demand

Miami needs to build or conserve at least 50,000 housing units in order to meet the existing need, according to The Connect Capital Miami Report. The report also found that 71 percent of people in Miami are renters and 61 percent of them are cost burdened and spend more than 30 percent of their household income on housing. The report gave development criteria as guidelines for the building and preserving of affordable housing, like incorporating support services and taking environmental sustainability into consideration. It suggested city leaders redevelop public housing, change the zoning code, reduce property taxes and consider a a vacancy fee. The report listed a goal of creating or preserving 12,000 affordable housing units by 2024.

Simmonds and Snyder teams joining Compass

The Simmonds Team and the Snyder Group will be joining Compass’s Palm Beach office. The Simmonds Team, led by Amy and John Simmonds, was ranked in the top one percent of sales agents in the country at Keller Williams. The Snyder Group, led by Dylan Snyder, was named one of Keller Williams Top 50 teams nationwide and was the top producing luxury team in Jupiter, according to a press release.

Florida MLS becomes ‘Stellar MLS’ in June

My Florida Regional MLS, the nation’s third-largest multiple listing service, will rebrand as Stellar MLS on June 4, 2019. As part of the rebranding, the new service will be upgrading its education platform to include a “recommended training curriculum” and implementing a new email marketing platform. Stellar is currently involved in the Council of Multiple Listing Services (CMLS) and offers a RESO Compliant Web API, according to a press release.

 

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