The Real Deal Miami

Home price declines expected in South Florida

July 10, 2008 12:21PM

South Florida cities have some of the highest risks of facing home
price declines in the next two years, according to the mortgage insurer
PMI Group’s 2008 first quarter report, the most recent data available.
The probability of home prices declining in Miami is 84.8 percent, while West
Palm Beach’s chances were at 91.9 percent. Fort Lauderdale’s probability of decline, 92.2 percent, was the second highest percentage of the 381
metropolitan areas nationwide in the study. TRD