With the first batch of homes that Miami-Dade County is planning to sell on the market this summer already selling out, it seems likely that this pilot program will help build the demand for those homes, and potentially a larger portion of the market.
The program, dubbed the Miami Home Market, will see buyers pay $150 to $300 a home for a home that is up for sale and is listed on a website.
Those buyers will also be able to pay $1,000 to $5,000 for a smaller home that they can resell on the same website.
The program will start with the first five homes and expand to the second and third batch, with each additional batch of buyers being able to resell a home.
According to a press release from Miami-dade County, the program will run through July, with homes selling for between $150 and $300.
In addition, the county said that they plan to continue the pilot program through September.
If all goes according to plan, the market will bring home prices to $900 for a house and $1.5 million for a condo.
This is an increase of about $400,000 over what was originally projected.
The press release says that this increase will help address the housing shortage that Miami and the rest of the state is facing.