While doing my morning reading, this news hit my feed and makes technical sense.
http://www.nahb.org/news_details.aspx?newsID=15792
In summary, it states that builders have slowed down or stopped building until market absorbs most of the units.
this also correlates to my local Hallandale and Hollywood market, in which my data studies show that property prices have reached a delta growth of less that 2% from November.
Unless the south american financial crisis in Venezuela and Argentina changes, I'm expecting that the demands will balance supply ( Columbia taking in the slack for Venezuela and Brazil for Argentina.)
Enjoy the read folks
Michael 'The Realtor' Rasch
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