The Real Deal Miami

South Florida has eight-month home backlog

November 19, 2008 04:36PM

South Florida has a more than eight-month backlog of unsold
homes, according to Metrostudy, a national housing research company. The number
of finished vacant homes has been declining in South Florida, but the increased
supply of foreclosed homes available is still creating a difficult market for
builders, who will have to cut prices to compete with foreclosed home prices.