As the summer weather continues to blaze hot and humid in Miami, is the residential real estate market cooling down or remaining on fire like 2020 and 2021? I really feel the real estate market in Miami since I typically have buyers and listings across ranges of pricing and types of property ie condo, townhouse, homes and land. We can all analyze the market with statistics, months of inventory and price per square foot. What I feel is we are experiencing a slow down and this summer is reminiscent of pre covid summers 2019 and prior. With interest rates on the rise, inventory levels increasing and the terror of Covid simmering down we are not seeing families from out of state rushing here to relocate. We are also not seeing buyers being able to afford that loan or able to find an affordable upgrade to move. I am watching a group of sellers who are holding onto the pricing of the 2020-2021 and after trying to sell for months they either remove it from MLS or go through a series of price reductions to see if they may capture that "NY" buyer. This group of sellers seems to list with brokerages who they be related to only using them for MLS access since a lot of the companies are names I have never heard of in 20+ years as well as located in other counties. While inventory may seem to be on the rise, the lack of inventory priced accordingly is not plentiful in the areas of Coconut Grove, Coral Gables, South Miami, Pinecrest and surrounding neighborhoods. We can wait and see how the market continues especially after families get back from traveling as summer comes to an end but I miss the busy 2020 and 2021 summers that kept me busy unlike what I have been used too with previous summers in South Florida. Call me today to chat about the market!