The decline in Miami inventory continued
through the third quarter with an 8.2% yearover-
year decline, yet much of the drop was
attributable to distressed inventory. Distressed
inventory, comprised of short sales and
foreclosures, fell 34.1% as non-distressed
inventory only fell 1.6% over the same period.
The sales mix continued to shift away from lower
priced non-distressed sales whose market
share accounted for 32.4% of total sales, down
by roughly half of the 62.9% market share seen in the same period 3 years ago.