Is the Florida market about to correct? (or crash??)

[Marcus Auerbach]

I just looked through some numbers for southern FL and they look bad. 

Miami-Dade County has over 8 months worth of suppy, Monroe County (Florida Keys) has almost 12 month worth of supply. Anything over 5 is considered a sellers market. 

Boward County (Fort Lauderdale) has 8 months' worth of inventory, almost 18,000 homes for sale. In comparison my home market Milwaukee County has 1 month supply and a total of 651 homes listed for sale. Granted, at about half the population, but the difference is almost incomprehensible. This looks like post 2008 levels.

Sold to List Price ratio's are slipping below 95% in FL, I have not seen much under 100% in 5 years. 

Who is local in Miami, Palm Beach, Fort Lauderdale, and Sarasota and can speak to the market down there?

[Ray Hage]

I don't think it will be crashing on the whole....condos, however, yes I see a crash that has already started months ago and going to get worse soon. For SFH, small MF, most commercial, etc should have a correction.

I just pulled MLS data last night. Dade has 5.6 months of inventory of SFH and Broward 5.1 months as Jan 2025. Don't get me wrong, it could get worse but I wouldn't freak out yet. I think we are just normalizing.

Just now out of curiosity, I just pulled Broward data for condos/TH and it is 10.8 months and 11.9 months for Dade! Data can be dangerous if you're not looking at the details.