The Real Deal Miami

Florida overbuilt, study says

February 09, 2009 04:47PM

Florida is one of the most overbuilt states in the U.S., according to a new report by housing market research firm Metrostudy. The state has 12.6 months worth of unfinished vacant inventory. A healthy level is 1.5 to 2.5 months of inventory, according to the study. Selling off the vacant inventory is the best way to return the housing market to normal, according to Metrostudy. But it takes roughly 189 days to sell a home in Palm Beach, Broward and Miami-Dade counties, making South Florida the hardest place in the country to sell a single-family home.