Miami Real Estate News: November 4, 2026
Welcome to our first Miami real estate news roundup, updated every Monday and Thursday. This edition covers early Amendment 3 results, the 4% tax-bill discount, mortgage rates, Citizens deadlines and new condo and rental rules.
Florida Amendment 3 property tax cut appears to pass; Amendments 1 and 2 fall short
Unofficial election-night returns show Amendment 3 with a little over 60% yes (roughly 61%), just above the 60% it needs, and CBS Miami and WSVN report it as approved; the results are not yet certified. If the result holds, starting January 1, 2027, the homestead exemption on non-school property taxes rises to $150,000 in 2027 and $250,000 in 2028 (the school-tax exemption stays at $25,000), and the yearly assessment cap on non-homestead property, such as rentals and second homes, drops from 10% to 5% for non-school taxes. People who were not permanent Florida residents as of December 31, 2026, get a $50,000 non-school exemption until their fifth year of homestead. In the same unofficial returns, Amendment 1 (state rainy-day fund) and Amendment 2 (farm equipment tax exemption) were below 60%.
What it means for you: The first bills affected would be the November 2027 tax bills; if you bought a home in 2026, file for homestead with the Property Appraiser by March 1, 2027.
Source: CBS Miami: Florida Amendment 3 is approved, deciding major property tax changes for homeowners · News4JAX: Florida voters to decide on property taxes, state reserves and farm equipment exemptions
Mortgage rates dip to 7.24% as the Fed holds steady
Freddie Mac's weekly survey on October 29 put the average 30-year fixed rate at 7.24%, down from 7.32% the week before and the lowest reading of October; the 15-year fixed averaged 6.60%. A year ago, the 30-year averaged 6.17%. On October 28, the Federal Reserve kept its benchmark rate at 3.75% to 4.00% in a 10-2 vote, and the two members who dissented preferred a quarter-point increase. Freddie Mac's next weekly reading comes out Thursday, November 5.
What it means for you: Rates are about a point higher than a year ago, so get a fresh pre-approval and compare at least two or three lenders before you make an offer.
Source: Freddie Mac: Mortgage Rates Decline Further to 7.24% (Oct. 29, 2026) · Federal Reserve: FOMC statement, October 28, 2026
Miami-Dade 2026 property tax bills are out: pay in November for 4% off
The Miami-Dade Tax Collector made 2026 property tax bills available online and began mailing them on October 30. Under Florida law, paying in November earns a 4% discount, then 3% in December, 2% in January and 1% in February; the full amount is due by March 31, 2027, and unpaid taxes become delinquent April 1. Online and in-person payments count by the date you submit them, and mailed payments count by the postmark.
What it means for you: On a $6,000 bill, paying by November 30 saves $240; if your mortgage has an escrow account, check with your lender first so you don't pay twice.
Source: Miami-Dade Tax Collector: Discounts for Early Payment · CiberCuba: Miami-Dade opens 2026 property tax lookup and payment this Friday
Citizens takeout offers: the next decision deadline is November 5
Citizens Property Insurance keeps moving policies to private insurers through its depopulation (takeout) program. Homeowners in the current round must register their choice by November 5 for a November 17 transfer, and letters mailed October 28 carry a December 4 deadline for a December 15 transfer. If you don't respond, Citizens can assign your policy to the participating insurer with the lowest estimated premium, and if a private offer is within 20% of your Citizens renewal premium, you may no longer be eligible to stay. Citizens reported 254,836 policies in force on September 30, 2026, down from about 1.4 million in 2023.
What it means for you: Don't ignore a Citizens offer letter: compare coverage, deductibles and the new insurer's financial rating with your agent before the deadline, especially if you are selling or refinancing soon.
Source: Citizens: 2026 Personal Lines Depopulation Calendar · Citizens: Policies in Force, September 30, 2026
New state condo reserve and SIRS rules took effect October 4
Florida's Department of Business and Professional Regulation (DBPR) amended its condominium reserve rule, 61B-22.005, effective October 4, 2026, just as associations prepare 2027 budgets. The rule spells out the types of structural integrity reserve studies (SIRS), requires the state's form for them, says a study counts as completed only when it is signed, dated and delivered, and ties reserve funding to the current study. Owners generally cannot vote to waive or reduce SIRS reserves for covered items such as the roof, structure, plumbing, electrical and waterproofing. DBPR has already published a notice of further proposed changes, dated October 22.
What it means for you: Buying or selling a condo in a building three stories or taller? Get the latest SIRS, the 2027 budget and any planned special assessments before you sign or set a price.
Source: Florida Administrative Code: Rule 61B-22.005, Reserves · C&S Companies: Florida's New Condominium Reserve Rules Are Now in Effect
Miami-Dade September sales: house prices up 4%, listings down 10%
Miami Realtors reported a Miami-Dade single-family median price of $692,000 in September 2026, up 4.1% from a year earlier, while the condo median slipped 0.7% to $417,090. Single-family sales fell 4.7% to 824, and condo sales rose 1% to 909. Total active listings dropped 10.1% to 16,242, leaving 5.1 months of supply for houses and 12.3 months for condos. Houses took a median 41 days to go under contract (down from 50), and condos took 67 days (down from 75).
What it means for you: Houses are balanced to tight while condos favor buyers; price from recent comps, since sellers got a median 95% of the original list price on houses and 94% on condos.
Source: Miami Realtors: Miami-Dade September 2026 market report
New Florida law makes rental-application fraud a felony and speeds removal
Florida's HB 1293 (Chapter 2026-143), in effect since October 1, 2026, makes it a third-degree felony to take possession of a rental home by lying about your identity on a rental application, using forged or fake documents, or impersonating someone else. A landlord can give a person who got in this way a written notice to leave within 7 days, with no chance to fix the problem, and then use the regular eviction process if needed. The bill passed both chambers unanimously and was signed June 12, 2026.
What it means for you: Landlords and investors: verify ID and income documents, keep copies of everything, and talk to a real estate attorney before acting on a suspected fraud case.
Source: Florida Senate: CS/HB 1293 (2026), Fraudulent Entry of Residential Dwellings · Florida Senate: Bill summary for CS/HB 1293
General information, not legal, tax or financial advice. Always confirm details with the official source, your attorney, CPA or lender.
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