South Florida inventory dropping

South Florida home inventory is below 50,000, the lowest it has been since the real estate meltdown. To be exact, there are 49, 900 residential properties across Palm Beach, Broward and Miami-Dade County. In November of 2008 there were 108,000 homes listed for sale in the tri-county area.

One factor contributing to the reduction in homes for sale is foreign investment. Buyers with strong currencies are paying cash for South Florida Real Estate, as they want to take advantage of low prices.

Another factor in the low real estate inventory is likely the hold up in foreclosure proceedings. Due to paperwork issues banks have been unable to foreclose homes and list them for sale.

The real estate market is shrinking and homes for sale are the lowest they have been since 2008. This is good news for the South Florida Real Estate Market. However, fewer homes for sale results in more competitive pricing.

While, Palm Beach has the largest share of inventory 17,800 homes for sale, it may not be for long. It is reported that Palm Beach is the 10th most searched real estate market in the nation. It appears that Miami has stabilized, Broward is practically stabilized and Palm Beach will be next.

Currently, there are 14,986 homes for sale in Broward County. If you are looking for a new home, don’t hesitate any longer. Don’t miss out on the location of your choice and the luxury home that suits your needs. It is important to consider that luxury home communities have even less home inventory available.

Currently, Landmark Custom Homes only has one home available for sale. If you are looking for a new luxury estate in Broward County contact us for a tour.