The Real Deal Miami

Shadow inventory threatens Florida prices

April 08, 2011 09:58AM

Florida’s shadow inventory ranks first in the nation, according to a
report from the National Association of Realtors, and the size of the
shadow poses big implications for home prices. Palm Beach County’s
median home value has fallen to under $200,000 in January before a
slight uptick in February to $205,400. “The cloud just keeps hanging
over us,” said Tim Becker, director of the University of Florida’s
Bergstrom Center for Real Estate Studies. “The question right now is:
when will the homes come on the market and over what period of time?” [Sun
Sentinel]