Thank you Peter Santanello for shooting an episode with me:Inside Wealthy Miami – Why Are So Many Americans Moving Here? Thank you Wall Street Journal for using my data and quoting me in this excellent article: Million-Dollar Homes Skyrocket in Miami, as Starter Properties Go Extinct.
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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