Welcome to the 2019 Miami Real Estate Forecast. I hope you enjoy reading this as much as we enjoyed piecing it together. It is a labor of love that took over 3 solid months to prepare and went through several revisions and updates before being published.
Forecasting any market is incredibly difficult and many experts will tell you that forecasting more than 3-6 months ahead in a general real estate market is nearly impossible. Our reports however are not general, but hyper focused on local communities and neighborhoods, then further divided by different price brackets. Our forecasting also comes with the twist of combining balanced and ‘grass roots’ social narrative with well researched and key analytics. Thirdly we focused on probability, not cast iron certainty, by way of the ‘Economics Health Indicator’, that give a very accurate and immediately understandable reading on the robustness of the market. But I will come back to that in a second!
My team writes blogs on a weekly basis while simultaneously being on the ground handling buyers and sellers every day, leading to great insights and market information. All too often the ‘brokerage house’ reports give arbitrary information that does not tell you which way to act. It’s written by researchers and not agents, and that’s the route of the problem; it is unable to read the patterns and behaviors, because it does not know the people directly, so it has trouble recognizing their patterns of behavior.
THIS IS A TOTALLY DIFFERENT KIND OF REPORT. We provide advice for both buyers and sellers and of course in addition to this have provided you with 6 key forecast bullet points (or more) per neighborhood making it easier to get a sense of the behavioral and psychological landscape. Cross reference this with the tables of information and numbers and you are going to gain clarity on where we are in the economics cycle, what to do and when to do it. Further layer this by staying up to date with our weekly blogs on the site: www.luxlifemiamiblog.com and you have a solid blue print for the year ahead.
The Economics Health Indicator was a brainchild idea of mine created from the need to simplify (without diluting) the explanative processes holding together a neighborhood’s performance. Buying and selling comes with risk, and what I discovered was that if I combined key indicators together and balanced them precisely, I could tell how healthy or sick a particular market was. In short, I was able to build a better scoreboard to read the market with. As the Warren Buffet saying goes: “If you cannot read the score board, you won’t know the score and if you don’t know the score you cannot tell the difference between the winners and the losers!”.
Much in the same way your doctor or performance coach can asses your health: blood pressure for stress, blood test for immunity, body fat levels and diet for metabolism, heart rate and Vo2 max for aerobic fitness, so we learned how to asses the health of the neighborhood. Is your neighborhood fit or is it sick and about to go into ‘Economic Cardiac arrest’ with values dropping like a stone?
David Siddons | Siddons.email@example.com | +1.305.508.0899
David Siddons is a top producing Miami Realtor with nearly $100M in yearly sales. He is known as a true market analyst and he is the author of several of Miami’s most groundbreaking real estate reports and forecasts.