Has Miami hit its home price peak? The members of the Master Brokers Forum seem to think so.

In a recent survey of its members, the MBF found that 89 percent expect Miami home prices to stay flat or fall gradually; the majority (55 percent) lean more towards “fall gradually.” Compared to 2014, when the Forum administered a similar survey and more than 40 percent of master brokers anticipated price increases, attitudes have shifted considerably.

“Clearly, Miami residential real estate has undergone a seismic shift over the past two years, which is par for the course in this unique market,” said Jeff Morr, Miami MBF chair. “This survey indicates our members’ sober awareness of this reality, and the depth of our collective experience.”

Morr explained that sellers need to “come to grips with this new reality” if they hope to sell their home, illustrating the widespread fear that buyer and seller expectations don’t currently align. Seventy-six percent of respondents agreed that that disconnect between buyers and homeowners is the “biggest threat to the success of Miami’s single-family home market.” The biggest threat to its condo market is inventory glut.

The reality, most agree, is that the current dynamics of Miami’s single-family home market make it preferential to buyers. Only 5 percent of respondents described the city as a “seller’s market.”

It is no longer 2014, when the debate was whether the market was balanced or belonged to sellers. The clear, current truth is as Morr said: sellers can “either wait out this particular cycle or adjust their pricing expectations accordingly.”