South Florida inventory below 50,000

The total number of residential resale units in South Florida has
dropped below 50,000 for the first time since the real estate crash,
according to a new report from brokerage and consultancy Condo Vultures.
As of Monday, there were a total of 22,200 single-family homes and
27,700 condos available for purchase in the tri-county area. In 2008,
there were more than twice that number available, with 108,000
residential units. “The amount of residential resale inventory on the
South Florida market has decreased by more than 50 percent since the
U.S. financial meltdown in the fall of 2008,” said Peter Zalewski,
founder of Condo Vultures. TRD