The Real Deal Miami

Number of Fannie-approved condo projects drops in South Florida

December 28, 2011 10:41AM

Less than three dozen new condominium projects in the region have Fannie
Mae approval, a drop of nearly half since last year, according to a
report from Condo Vultures. In September 2010, there were 70 projects
that possessed the approval, which is often a requirement for many
would-be buyers in order to obtain a mortgage. Miami has 18 such
projects, with 10 in Palm Beach County and six in Broward County.
Statewide, there are 113 new condo projects — that is, built after 2003
— with Fannie Mae approval. — Alexander