The Real Deal Miami

Florida real estate among toughest to move

December 05, 2008 11:35AM

Radar Logic, a New York-based research firm, reported that Miami,
Orlando and Tampa rank lowest nationally in transaction volumes, even
for sellers unloading properties at a loss. Homeowners selling their
properties after less than a year, even if they aren’t making money,
now represent 17.3 percent of total sales in the U.S., reports
Zillow.com. This is higher than at any point during the housing boom,
when many people were avidly flipping homes for profit. Las Vegas and
Yuba City, Ariz., are leading the way for these sellers who mistimed
the bottom. Respectively, 34.1 percent and 34 percent of these
homeowners sold their homes in the third quarter of 2008, despite
having owned the homes for less than a year.