Prominent Miami real estate players say those selling modestly priced condos and single-family homes at every price range can expect a profitable 2018, according to The Real Deal.

As the supply of luxury condos remains high, experts say to expect canceled projects and sales at lower price points. According to Ron Shuffield, CEO of EWM Realty International, there were five years’ worth of condo inventory over $1 million in Miami, forcing sellers to lower prices by as much as 35 percent off the initial asking price. However, the market looks promising for residential homes and older, more affordable condos, particularly those priced at or below $600,000.

“We are seeing a new housing boom,” Shuffield told The Real Deal, pointing to new projects from developers like Lennar in areas including Hialeah, Homestead, and Doral. Corresponding with this boom are buyers willing to pony up higher down payments for a home. New data also suggests that Miami-Fort Lauderdale is among very few urban areas where it’s actually cheaper to buy than to rent.

Shuffield also tells The Real Deal that there’s more single-family home development happening now (and planend for 2018) than has been seen in the previous decade. That’s good news for buyers: in October, the Sun-Sentinel found that a shortage of single-family homes drove prices upward.