But that's not necessarily a sign of bad times.
"Other than weekly rentals, the Super Bowl is not big for us," said Miami Real Estate broker and blogger Riley Smith. "But it doesn't matter because this is our biggest time of the year anyway."
With three blogs - The Real Estate Coconut, South Miami Real Estate Blog, and Coral Gables Real Estate Vault - Smith knows the housing market and he knows a lot about Super Bowl games. He's been to about six, and not all in Miami.
Out-of-town Super Bowl visitors are focused on good food, getting in some beach time, and checking out the shopping and the clubs. Looking for a winter escape isn't on their minds.
"They're enjoying the city," Smith says, "They might be saying 'what a great place I might want to spend more time here.'"
But shelling out a few grand for a down payment isn't part of the game plan for most visitors.
"The best thing about going to a Super Bowl is visiting another city," says Smith, a huge sports fan himself. "It's a celebration and everybody is in a good mood and having a good time. It gets you thinking 'maybe I want to come back.'"
So, odds are this week's visiting football fans from Indianapolis and New Orleans might be back. But don't gamble on a housing sale.