South Florida Home Buyers Finding More Inventory to Choose From

by Isaac Benmergui, Esq on September 8, 2013

money puzzleIf you’ve been shopping for months for a home in South Florida, there is hope on the horizon; available home inventory is on the rise.

For weary new home shoppers this is welcome news. Tired of bidding wars, low inventory, and inability to find a suitable home, buyers have watched as prices rose and months ticked by without hope of ever finding the perfect home for them.

Market analysts and local real estate agents think that’s all about to change. Home sellers are beginning to understand that it’s a good time to list their home before the market becomes too flooded with available homes and the market shifts to a buyer’s market.

In July, Broward County had 4,297 homes listed for sale, down only 10 percent from a year earlier. Broward’s current inventory would be depleted in 3.5 months if no more homes were listed; Palm Beach County’s inventory is currently at a 5.1 month supply. In a market that favors neither buyer nor seller, six months’ worth of inventory is needed.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

 

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