South Fla Homebuyers Frustrated By Shortage Of Listings

South Fla Homebuyers Frustrated By Shortage Of Listings

 A scarcity of homes for sale is rattling buyers, emboldening sellers and pushing prices higher in South Florida.

Analysts say a market balanced equally between buyers and sellers has a six-month supply of properties, meaning that's how long it would take to sell all of the homes if no more were listed.

At the end of June, Broward's single-family supply stood at a paltry 3.8 months, down from 4.9 months in June 2014, according to data from the Greater Fort Lauderdale Realtors.

Palm Beach County is slightly better off but still short on for-sale signs. The county had a 4.8-month supply at the end of June, compared with 5.8 months two years ago, the Realtors Association of the Palm Beaches said.

Lack of supply is one of the main reasons why values keep rising, housing observers say. The median price for existing homes in Broward hit $325,000 in June, up 7 percent from a year earlier, while Palm Beach County's median increased 6 percent to $320,000.


Morrie Finkelstein Headshot
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Phone: 754-234-0637
Dated: August 3rd 2016
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