Brittex Blog

The following chart was taken from data supplied by Esslinger Wooten & Maxwell of Miami-Dade, Florida.  http://www.ewm.com/trendx

The table below is for Miami Beach condominiums as of November 2007.  The chart indicates there were 4,008 units for sale on the MLS (Miami-Dade Regional Multiple Listing System) with only 70 units selling per month.

That is equivalent to an absorption rate of 57.26 months or 4.77 years.  A typical supply/demand is six to eight months of inventory according to Realtors that Brittex has interviewed.

Dear Britt, How does the S&P/Case-Shiller compare with the results of your chart above ?

Pam, The S&P/Case-Shiller Home Price Indices measures the residential housing market, tracking changes in the value of the residential real estate market in twenty metropolitan regions across the United States. These indices use the repeat sales pricing technique to measure housing markets. This methodology collects data on single-family home re-sales, capturing re-sold sale prices to form sale pairs. The index family consists of 20 regional indices and two composite indices as aggregates of the regions. The S&P/Case-Shiller Home Price Indices are calculated monthly and published with a two month lag. New index levels are released at 9am Eastern Standard Time on the last Tuesday of every month. Another way to track changes in the value of markets is to use the statistics feature of the MLS (Multiple Listing System). Brittex will have future posts on this topic along with other charts from EWM.