Miami Condo Fiasco

Sorry I haven’t written in a while. My wife had a baby. So anyway, I just read that 469 existing homes were sold in Miami in June. That’s a drop. Statewide, existing home sales dropped for the 4th month in a row.  But while prices dropped 5% in pretty much every area of Florida, home prices actually went UP 5% in Sarasota. That’s excellent news.  Hopefully the condo machine in Miami will stop churning out new inventory long enough to give demand a chance to catch up.  One cool thing I saw though is a directory of Condo Hotels. Maybe my place will make that list!