South Florida sees 70 percent drop in resale inventory since 2008: report

A new report from brokerage and consultancy Condo Vultures finds that South Florida’s resale inventory has plummeted by 68 percent since Thanksgiving week in 2008. There were almost 108,000 resale properties on the market at that time, and there are just 34,250 condos, townhome and single-family homes on the resale market as of this week, according to analysis by the CVR Realty brokerage. There are approximately 23,000 residential properties currently under contract. — Alexander Britell