Miami housing market varies widely

Although the most recent Standard & Poor’s index of the Miami housing market shows that prices have fallen an average of 25 percent since 2005-2006, many houses and condos are being discounted as much as 50 percent, while some asking prices remain around their peak. With so much disparity it is difficult to judge how far the market is from the bottom. Nearly identical condo units in high-rises are on the market for $550,000 new and $369,000 as a distressed sale from an investor.