Today's Miami Herald has an article that uncovers a little bit of promise for the south Florida property market - possibly. Author Jim Wyss reveals that figures for March released by the Florida Assoication of Realtors show an increase in the number of properties being sold, the first such increase of the year.
This increase in sales may be largely down to the fact that property prices in the region have dropped, and continue to do so. As vendors become more keen (perhaps even more desparate) to sell, they agree to list their properties at a more realistic price.
The article goes on to mention that the some analysts do not believe that this increase reflects any kind of general upturn of the market; they feel that it's more likely that prices will continue to fall. Add that to the fact that mortgages and loans are harder to come by, and it will be a while before all those properties do eventually get sold.
Article: Some hope: S. Florida home sales go up a bit (Miami Herald, 23rd April 2008)
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