"The South Florida real estate market is showing signs of potentially bottoming out," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC. "Resale inventory is down 35 percent across the region, all of the construction cranes developing condos in Greater Downtown Miami have been down for at least a year, and 19 bulk deals - four in November alone - have closed since July 2008.
"The looming question that remains is whether the South Florida market is at a plateau or a bottom given that foreclosure filings are still rising."
Go here to read the entire story:
