Below are the market share and market trend reports for November for the Broward market. (Single Family Home & Condo) The inventory supply for SFH was up in November and now sits at 3.72 months, while new listings decreased. In the condo market, the inventory supply grew in November and is currently at 5.57 months, while new listings ticked up. This is great news to see Inventory growing for the 2nd straight month!
REO and short sales remain a key component of our market. In November, the REO inventory and closings, both decreased on SFH. Similarly, short sale inventory dropped while closings were also down on SFH in November. In the Condo market, REO inventory and closings, both fell sharply in November. Similarly, short sale inventory decreased as closings ticked down modestly in November.
Wishing you all a very happy and healthy holiday Season!