The Real Deal Miami

WSJ analysis finds Miami market weak

July 30, 2008 03:53PM

Home prices are still dropping, despite falling inventory levels,
thanks to limited credit and the flood of foreclosures. Adding to the
vicious cycle, layoffs are up. The Wall Street Journal’s quarterly
survey of housing data in major metropolitan areas listed Miami as a
“weak market.” While employment opportunities are ranked as “average,”
the list pointed at Miami-Fort Lauderdale as having the highest
inventory compared to its current sales rate. The survey ranks cities
based on inventory levels, price changes, and employment outlook.