Ana Bozovic Refutes Newsweek, yet again

“Miami Homes Suffer ‘Monumental Collapse’ in Demand”
You can read this Newsweek masterpiece here >

Really?
They cherry pick an anomalous month in Nov 2021, and say that inventory has spiked since then.

As I have been saying for years, you need to look at the whole cycle. SFH active listings are down 55% versus 2014 (10 years ago) and are down 21% vs. 2019 (pre Covid).

Meanwhile, over those same 10 years, population has grown. Florida surpassed 23M people for the first time & Miami’s pop is growing at almost 1% a year.

Now back to demand, and its alleged collapse:

The only segment of the SFH market that has a drop in sales (now vs. pre Covid) is the sub $500K segment.
Why?
Because active listings sub $500K have dropped almost 90% since 2019.

$500K – $999K SFH: record sales volume in Q3 2024

Every segment past $1M has 2x+ sales volume vs. 2019.

And looking at $2K / square foot:
sales volume is up 875% and it is 77% all cash.

So come on … this is getting tedious and ridiculous.