The U.S. housing market remains competitive with limited supply, causing prices to rise, though growth has slowed due to higher mortgage rates. The typical home value is $368,720, up 0.8% year-over-year. In the Miami-Fort Lauderdale-Pompano Beach metro area, home values vary widely, with some cities seeing slight declines and others experiencing significant increases over five years, with typical values ranging from around $230,000 to over $7.5 million.