Real Estate Update: Drop in Inventory of Homes for Sale

The amount of homes on the market is continuing to decline from a year ago. From May 2011 to May 2012, according to data from Realtor.com, most metropolitan cities’ single family homes inventory fell while prices continued to rise, indicating a real estate upward-bound recovery.

Some Florida markets where inventories have dropped are –

· Tampa-St. Petersburg-Clearwater, Fla.: -39.76 %

· Miami-Dade County, Fla.: -33%

· Coral Gables, Fla.: -29.6%

Prices rose in Coral Gables by 7.9% and in Miami-Dade County by 12.9%.

Visit Slesnick &Jochem for available MLS listings.

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