Florida home prices expected to dip 10%

Despite Miami’s 12-percent jump in median home prices late last year, Florida’s residential market still hasn’t hit bottom, according to a forecast from TD Bank Financial Group. The bank, which estimated a rebound could occur sometime in 2012, said that it expects prices to dip 10 percent statewide as more inventory is put on the market. “Florida’s housing market still has a long way to go before it recovers,” said Alistair Bentley, an economist with TD Bank. [Palm Beach Post]