Recent housing data from Redfin and Zillow indicate Miami median sale prices hovering near $590,000–$650,000 through mid-2026, with modest year-over-year declines of up to 1% amid rising inventory and slower transaction velocity. Elevated mortgage rates continue to weigh on affordability, supporting trader consensus around the $1.089M–$1.125M bin as the leading outcome at 42.5% implied probability. Seasonal demand into late summer, combined with persistent migration inflows and limited new supply in higher-value segments, underpins positioning for modest stabilization by September 30. Key upcoming catalysts include August housing starts and any shifts in Fed rate expectations that could influence buyer sentiment before resolution.