Posted on Wednesday, November 25, 2009
Great Article by Monica Hatcher of the Miami Herald;
When home supply exceed one year prices fall. With 6 to 9 month inventory price tend to be stable. Less than that and prices appreciated.
As of now in Miami Dade there is s ;
4 month supply of homes under $100K
8 months uplly of homes under $300K
21 month supply of homes in the $300K to $1 million range
4 year suply of homes over $1 million
Guess which price rnages are going up and which are giong down in value!