New report shows pending deals to be down in South Florida region

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Pending deals for residential resale inventory dropped 1 percent to a total of 17,694 deals on a week-over-week basis in the three-county South Florida region, according to a new report from Condo Vultures. In Palm Beach County, deals dropped by 4.4 percent in the last seven days to 2,599 contracts signed as of Oct. 5, according to the report which used Florida Association of Realtors data. In Broward County, the number of contracts dropped by .4 percent to 7,173 pending deals and the number of contracts in Miami-Dade slipped by .3 percent to 7,922, according to the data. “If this continues, we may be seeing early signs that the buyers are growing disinterested in the available inventory,” said Peter Zalewski, a principal with Condo Vulures. [Condo Vultures]

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