A research group is reporting what South Florida's Condo Vultures® have known for the last year - Miami's residential property market is dropping. In fact, price drops in the South Florida market rank it as the second worst in the country. Here are the first few paragraphs from the story:
Home prices in Miami fell 10 percent in the past year, the second most in the nation, according to data released Tuesday.
Nationwide, home prices fell 4.5 percent in the third quarter from a year earlier, the sharpest drop since Standard & Poor's began its nationwide housing index in 1987 and another sign that the housing slump is far from over, the research group said Tuesday.
The index also showed that prices fell 1.7 percent from the previous three-month period, the largest quarter-to-quarter decline in the index's history.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment