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South Florida's housing market sees potential 10-20% price drop as listings surge to 52,000.
South Florida's housing market faces a potential price drop due to a surge in available homes, up to 52,000 listings, more than quadruple from 2022.
Factors include local buyers being priced out, fewer people moving in, and high fees pushing homeowners to sell.
A market correction of 10-20% is expected, especially affecting the condo market, where values dropped 20% in some areas since March 2024.
Miami-Dade and Broward County both show increased inventory and median price drops, signaling a buyer's market, especially for condos.
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El mercado de la vivienda del sur de la Florida ve una posible caída de precios del 10-20% a medida que los listados aumentan a 52.000.