The Real Deal New York

Editor’s note: SoFla luxury resi market finally slowing down

Inventory buildup and a strong dollar are cutting into prices and demand

November 04, 2015 03:05PM
By Stuart Elliott

Stuart Elliott The Real Deal

Stuart Elliott

From the South Florida Market Report: Well, it was bound to happen.

After using verbs like “soaring” and “booming” and “skyrocketing” to describe Miami’s luxury residential market for the past five years, momentum may be slowing. 

Fueled by a buildup of inventory and a strengthening U.S. dollar, which has driven away some foreign buyers, cracks in the armor are starting to appear. [more]