Newsweek Rebuttal: Miami Home Prices Are Absolutely Not Plunging

The headline reads: Miami Home Prices Plunging, see it here on Newsweek >

The article starts by saying that "prices of homes in Miami fell by more than 11 percent last month.
That statement is false.

The article references a Realtor.com study >

The Realtor.com study has aggregate LISTING PRICE data for Miami-Fort-Lauderdale-Pompano beach. Their data has an 11% YOY decrease for that data point.

I have pulled pricing and listing price data for the city of Miami, for SFH and for Condos.

SFH median prices in May 2024 were up 10% YOY, and median listing prices were up 75%.
Condo median prices in May 2024 down 1% YOY, and median listing prices were up 18% YOY.

Once again, some members of the press are latching on to anything near the word "Miami" to try and create negative spin.

The headline in this Newsweek article is an egregious misrepresentation of reality.

They should issue the city of Miami an apology.