search

The Real Deal Logo

Trending

Glossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseTides Equities faces three foreclosures in Fort WorthTides Equities faces three foreclosures in Fort WorthSwig finds new bottom with DTLA office sale at $94 a sfSwig finds new bottom with DTLA office sale at $94 a sfHow Hochul played the “good cause eviction” game, and wonHow Hochul played the “good cause eviction” game, and won
South Florida

South Florida home prices face huge drop; NAR remains optimistic

Sign Up for the undefined Newsletter

A housing analyst at Deutsche Bank warns that South Florida homes will need to drop more than 36 percent to return to their levels of affordability from 2000 to 2003. Home prices in Palm Beach County would have to fall 38.1 percent from now until the end of the housing slump, the report says, while Broward County prices would need to drop 36 percent. Despite such predictions, optimistic National Association of Realtors chief economist Lawrence Yun said at a conference today that South Florida home prices could increase by 20 to 30 percent in the next five years, and could start to turn around as early as the end of 2008.