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Elliman Report: Miami Sales 3Q 2013

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.

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Housing Notes by Jonathan Miller

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