Condo Market in South Florida Recovers

March 9, 2012 Posted by Rick

This is the report I’ve been looking for, from Condo Vultures┬«, LLC. ‘South Florida’s supply of new condo product created during the recent boom is on pace to sell out in the first half of 2013.’

Very informative, giving statistics and reasons for recovery. I was not aware of the heavy influence of the foreign and bulk buyers, much less that the inventory glut was drying up. Like I said before, I thought we were in for a 10 year recovery period. Most important to us in the construction biz is the planned construction.

‘In anticipation of the eventual sellout of the new condos created during the boom, developers are already proposing 24 new condo projects with more than 4,500 units in each of the counties of South Florida’, according to Condo Vultures┬«. As of March 6, 2012, at least five new condo towers have already formally initiated construction.’

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