Hot off the presses! Miami Dade SFH 2024 report preview. Full 2024 year end report and 2025 forecast coming next week. Median price at all time highs, inventory 36% below pre covid (2019). This should provide plenty of ammo to retort the negative, click bait generated by legacy media. Annual data is simple to understand and the truth is clear.
Ana Bozovic Refutes Newsweek, yet again
Legacy media has dug its own grave.
Completely false headline again, accompanied by a very poorly written story.
The arrogance with which legacy media lies and creates poorly written, politically motivated hit pieces is breath taking.
And this is my second time refuting a Newsweek article.
I had previously debunked a Newsweek article in July, 2024 >
Download my full Q3 2024 Miami Real Estate Report
“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.
Get on Ana’s List
I personally work with a select number of buyers every month.
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