Themes of the week: UBS “Bubble” Report • Rock The Market Highlights • Special Invitations. Thank you to the South Florida Business Journal for quoting me on this topic. The UBS "Bubble" report is a travesty and they should be embarrassed. This report a sensationalist misuse of a global platform, and its misleading headline is being echoed by press worldwide. * An invitation: Join me, I am speaking at the Real Deal Conference. 📍 Mana Wynwood | November 5 & 6 I am speaking on Nov 6 in a first-ever, special debate style panel with Daniel Kodsi. https://events.therealdeal.com/event/how-to-survive-the-squeeze * An invitation: Join me for my super fight at Main Character Jiu Jitsu 📍 La Scala De Miami Brickell | October 19 Tickets here, please select me at checkout: https://nitrotickets.com/event/1064/MCJJ-1HALLOWEEN-1HAVOC-1--11019
South Florida Real Estate: the truth about inventory
Download my full Q2 2024 Miami Real Estate Report
What is really going on with inventory levels in South Florida? So much press lately about rising inventory in FL and across America.
Here is the reality for Miami Dade, specifically for SFH:
* SFH overall inventory remains 39% below pre Covid, 2019.
* SFH median pricing hit an all time high in June 2024, up 78% versus June 2019 & up 5% YOY.
* SFH active listings below $500K are at all time lows.
They are down a shocking 87% versus pre covid, 2019. And are down 17% YOY.
SFH under $500K is essentially disappearing.
There were 513 active listings in June 2014 versus over 3,500 in June 2019.
Our SFH market is extremely healthy and extremely tight.
Simply put: we cannot add more inventory vertically.
The wealth and talent migration has just begun, and or feeder jurisdictions will continue their hostilities towards capital.
Remember: we are poaching tax payers from blue states that were high lockdown. Our success is in many cases, contrary to their belief systems. Hence the misrepresentation.
But remember: haters are fans too 🙂
#LONGMIAMI
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