Wednesday, February 8, 2012

Report: Tri-county real estate backlog eases - Triangle Business Journal:

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South Florida’s residential real estate inventory fell 1.1 percent in the last week with 81,159 propertiez on the market, according to the which uses data from the Florida Associatiobn of Realtors. That’s down from 83,4912 residential resales on the market inthe tri-countyt area as of June 1. However, the glut of condoe and townhouses on themarket isn’t shrinking as They represent about 61 percenft of the total industry, up from 57 percent in November, according to Peter Zalewski, a principal with the Bal Harbour-basedx real estate consultancy and brokerage firm.
Broward has the fewest numbedrof single-family houses available for resale with 10,17 9 properties, or 32 percent of the totapl South Florida inventory of Miami-Dade and Palm Beach counties each accounr for 34 percent of the remaining single-family home inventory. Palm Beacn County has 10,888 houses for sale compared to 11,058 houses on the resale marketin Miami-Dade, according to the There are 49,034 condoxs and townhouses on the resale market. Forty percenr are in Miami-Dade, 33 percent in and 27 percent inPalm Beach. The number of home saled pending in the week endedr June 22slipped 0.
5 percent to 15,564r from 15,645 on June 15, but saw a 318 increasr from June 1 when there were 15,246 pendiny sales.

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