The Real Deal Miami

A few green shoots poke through for real estate market

May 28, 2009 01:54PM

Broward County property inventory is down 18 percent from last year, mortgage rates are lower than a year ago and tax credits are luring first-time home buyers to the market. But the area’s real estate slump is now 40 months old, property valuations are down an average of 36 percent for existing Broward homes, and foreclosure rates are still high, according to the Florida Association of Realtors.