According to a report published Monday by Condo Vultures, South Florida's inventory of existing homes for sale has decreased by about have in the past 20 months and now it seems it is slowly growing again.
The report found that in the month of June, the number pending home sales including Miami condos, townhomes and single family homes in Miami-Dade, Broward and Palm Beach counties rose by about 2.5 percent, posting increases for each of the last four weeks.
Since Condo Vultures begun tracking in 2008, this is the first time South Florida's supply of residences for sale has risen four weeks in a row, said Peter Zalewski, a principal at Condo Vultures in Bal Harbour.
Condo Vultures Realty compiled these numbers by using the South Florida Shared Multiple Listing Service. Active listings are properties where no current sale contract exists; pending Sales are properties in which a contract for sale has been executed, but not yet closed. Listing brokers control the status of a property listing.
Contributed by MLR Realty
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