According to an article in the Sun-Sentinel recently, the number of homes for sale in Broward County is down by 35% compared to this time 2 years ago. 31% in Palm Beach County.

This a good indicator that we won't be in a Buyer's market forever, however are also a large amount of foreclosure that have yet to be put on the market. This is known as the "shadow inventory", homes that banks withhold from selling in order to help sustain current home prices in the hopes that prices will continue to recover sooner.

Our offices have seen definite momentum after getting through the mid-summer lulls of June and July. Our Palm-Aire Realty sales start to pick up in August/September and continue strong through May, which is what it means to have a seasonal sales cycle.

Each type of real estate market sees peaks at different times of the year. Families with school-aged children move much more often over the summer months, whereas retirees and 2nd home buyers tend to buy homes from October to May, while it is coldest in the north.

Click the link below for more information on the article in the Sun-Sentinel. 

http://www.sun-sentinel.com/business/fl-home-inventory-shrinking-20100811,0,839488.story