Status of The Housing Market

Filings were down 4% compared to June and were 35% lower than July 2010, marking the tenth straight month of year-over-year declines across the United States. This is the 10th strait month of declines.
Sales of existing homes in Palm Beach sales soared 26 percent to 1,115 in May of 2011. Prices were a different story. Palm Beach's median of $214,100 was down 9 percent from a year earlier. The median means half sold for more and half for less. Sales of existing homes in Broward hit 1,142, up 6 percent from a year ago in May. Prices were a different story. Broward median's price was $188,500, off 17 percent from a year ago. Statistics say that there are 10,459 condos and 6,517 single-family homes available for sale in Miami-Dade county. According to the Miami Association of Realtors and the Multiple Listing Service, since January, inventory of these types of properties have dropped 21% (60% since August of 2008).