The housing market collapse led to a dramatic turn of events in Miami real estate market which left many properties foreclosed and several projects stranded. The problem aggravated with the falling property prices and lesser properties being sold which brought the business to an almost standstill position. Areas most affected by the bad economy and real estate crash included Miami, Fort Myers and Orlando. Although, things continue to be bad in many of the states, Miami real estate market seems to be heading for a slow recovery.

Miami real estate is growing fast and there is no looking back for this sector in the United States of America. In the latest research conducted by the National Association of Realtors, it has been found that Miami is the top foreign buying destination as investors find this profitable, secure and desirable. The stronger foreign currency especially in Western Europe is one of the factors which is responsible for foreign buying and to bring boom in the Miami real estate industry. Apart from Miami, Florida is consistently the top state in the United States of America which is famous for international buying. About two-thirds of Miami real estate agents and the Florida realtors have worked with the foreign clients during the last year. According to the reports, the top markets for foreign buyers have been the Miami-Fort Lauderdale-Miami Beach area.