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We all have a love-hate relationship with MIA. No one can deny that it is an international hub with just about every airline at our disposal, taking us to all corners of the world. And, in the same breath, we all have a story about how MIA has failed to meet our expectations.
When Miami International Airport first opened 97 years ago, the world (and Miami) were very different places. Last year 56 million passengers came through MIA, as well as 3 million tons of cargo. Overall, MIA generates an estimated $118 billion in business revenue for the State.
County Mayor Daniella Levine Cava recognized this as an opportunity to get better and has championed for a major move forward with her Future-Ready: Modernization in Action Plan.
Through the Modernization in Action Plan, 126 passenger loading bridges, 203 public bathrooms, and 616 conveyance units (elevators, escalators, and moving walkways) are being renovated in phases over the next 5-7 years. They have already seen major improvements in the uptime for passenger conveyance, but know they have more to do.
I interviewed the Mayor and the Director/CEO of Miami International Airport to hear about the work-in-progress and what is still to come. A new garage (named the Ibis Garage) is slated to open in late 2025, adding 25% additional capacity. A whole new terminal will also break ground in June. Terminal K will be the home to narrow-body planes.
I particularly liked that they will be replacing all of the boarding bridges with an all-glass design. This will eliminate the claustrophobia that many people have when boarding and de-boarding. There is also a brand-new AI driven signage implementation that will even take advantage of your smartphone to visually guide you to where you are going. And, MIA is the first airport in the country to have autonomous wheelchairs for when the hand-pushed ones are overwhelmed with customers.
With so much to learn about, I present the whole interview for you to explore at: youtu.be/BRCuiZRfwGc (note: CAPS and lower case letters are important!)
nnier Skies in Florida Tourism
Tourism is a major economic driver for Florida, contributing billions of dollars in revenue annually through visitor spending. It supports a substantial portion of jobs in the State, both directly in the tourism industry (hotels, restaurants, attractions) and indirectly through related sectors. So, it is very good that everyone wants to be in the Sunshine State. But this is rapidly changing, and soon our beloved Florida may have a massive problem on its hands.
Canadians account for about a quarter of the international travelers to Florida. A recent study reveals a steep decline in Canadian demand for travel to the U.S., especially to Florida. According to aviation data firm OAG, advance bookings for Canada-U.S. flights between April and September have dropped by more than 70% compared to the same period last year. “This sharp drop suggests that travelers are holding off on making reservations, likely due to ongoing uncertainty surrounding the broader trade dispute,” says OAG chief analyst John Grant. In response, airlines are also cutting back on cross-border flight capacity — a clear indication they’re experiencing weaker demand as well.
Canadian Scott Lamb says he’s about as pro-American as one can get. He grew up in a border town near Buffalo, NY. His dad is a dual citizen. He has a close cousin in Vero Beach and has often traveled to the United States, including to Florida. Recently, he has changed his tune, “I won’t go back to the U.S. until some sort of sanity prevails.” He says he is reacting to when President Donald Trump repeatedly threatened to turn Canada into the 51st state and referred to the prime minister as “governor.” Since then, Lamb vowed to stay away and backed this up with trips to Bermuda and the Cayman Islands. He loved these spots so much that he is now bringing his mom along for the next trip.
All of this comes on the heels of some pretty spectacularly good news for the State. In February, Governor Ron DeSantis announced that Florida continues to be the top destination for travelers from all over the world as it welcomed a record-breaking 142.9 million visitors in 2024. This marks a 1.6% increase over 2023, the previous record annual visitation in the state’s history. “The results are clear—Florida is the best place to visit, live, and do business,” said DeSantis. “Another record-breaking year is proof that leadership matters, and the Free State of Florida is a model for the nation.”
Tourism helps drive the real estate market as well. People come to South Florida and fall in love with our weather. Some are compelled enough by our sunshine to want their own home in the sun. It stands to reason that if tourism is down, we can expect weaker demand for our homes. At present, it appears weaker international tourism will be at play in 2025. The question is whether domestic vacationers will also scale back their Florida getaways.
I continue to see signs of a much more balanced real estate market. Sellers are being more approachable on things like repairs and providing credits to buy down interest rates so that their deal can close. In short, smart and flexible buyers and sellers are getting it done, despite growing headwinds. Tourism builds Florida up, but a slowdown does not necessarily mean a takedown for our residential real estate market.
Real Estate Update
As of 4/23/25, there were 181 properties for sale in Pinecrest, 15 homes pending sale and 11.3 months of inventory (buyer’s market). If you’re ready to move, contact me to get the best local expertise, truthful guidance and realistic expectations. It’s easy to get started at miamihal.com/getstarted.
I invite you to view past episodes of my The MiamiHal Real Estate Show at miamihal.com/the-miamihal-real-estate-show to hear from experts and get the latest real estate news.
Hal Feldman (MiamiHal) is a Realtor with RE/MAX Advance Realty. You can contact him with your story ideas or real estate questions at www.MiamiHal.com, Hal@MiamiHal.com or www.facebook.com/MiamiHal
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