`Shadow market’ clouds housing recovery
A new study of homes likely to be put on the market for sale suggests S. Florida’s housing market will see more price declines just as values have been appearing to stabilize.
The number of properties on the market may be much larger than anyone thought and appears likely to swamp South Florida with more deeply discounted homes, clouding the prospects for a housing recovery.
Figures from the Florida Association of Realtors released Friday show that South Florida’s median home prices have stabilized over the past several months and sales are up year-over-year as the number of properties on the market shrinks.