MIAMI-A revived real estate market helped the South Floridaeconomy grow by 3.5% last year.

The data was released on Tuesday as part of an annual economicreport card issued by the US Bureau of EconomicAnalysis. The report stated that the real estate industryin the three county area of Broward, Miami-Dade and Palm Beachaccounted for 31 cents of every new dollar added to the area's$274-billion economy, according to the Miami Herald. In all, thereal estate sector contributed $52 billion to the tri-countyregion.

“Real estate is really the foundation for this area. It'scrucial for the recovery,'' said Tony Villamil, aprivate economist and dean of the business school at St.Thomas University.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.