If you read last weeks newsletter and are wondering why prices are falling in other parts of the country and not South Florida it all comes down to inventory. Look at the months supply of inventory in February's Market Snapshot below. We have 2.8 months supply for single family homes and 3.2 months for condos. This is still low even though it is twice what it was a year ago. Prices won't fall unless that number gets well above 6 months supply. For context in 2008 we had around 24 months supply.
The Fed just raised rates by 0.25%. This was expected. Bank failures make people very nervous. From what I have seen, those were very poorly run banks and deserved to fail in my opinion.
Florida is booming. Unemployment is low. It's the Spring selling season. Things could be worse.
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Serving The Greater Fort Lauderdale area since 2006
You can reach me 954-895-2431
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