The Real Deal Miami

Resale numbers decline

December 03, 2009 04:33PM

Condo Vultures reported that resale contracts in South Florida ebbed by 1 percent from the previous week, indicating an improving inventory. There were 18,206 pending deals as of Nov. 30 in the tricounty South Florida region, the consultancy’s report said. The previous week saw a 1.3 percent increase in resale contracts in Miami-Dade, Broward and Palm Beach counties. Peter Zalewski, a principal with the Bal Harbour, Fla.-based company, said the Thanksgiving holiday could have played a role in the weekly decrease. Additionally, resale inventory dropped 35 percent on a year-over-year basis. [Condo Vultures]