The Real Deal Miami

Miami-Fort Lauderdale housing inventory sees major drop, WSJ report shows

October 22, 2009 11:12AM

Supply is down in 28 different major metropolitan housing markets, according to the Wall Street Journal’s quarterly report on residential sales, with the Miami-Fort Lauderdale market showing the second greatest decline in inventory. The number of homes listed for sale dropped 38.5 percent in the Miami-Fort Lauderdale area since last quarter, according to the report, second only to Sacramento, Calif., which saw a 59.1 percent decline. Although all markets evaluated showed declines, the report said that there is major potential for inventory to creep back up, as banks acquire more foreclosed homes in the coming months.