Miami’s mainland housing prices generally moved
higher as sales declined and inventory expanded.
Contributing to lower activity was the 28.8% drop in
distressed sales, comprising foreclosures and short
sales as the market continued to move properties
into stronger hands. The market share of distressed
sales fell to 21.5% of all sales, from 38.5% two years
ago. Sales of non-distressed properties fell 13.8%
over the same period. The reduction in distressed
sales lowered the share of the market paying with
“cash” by 5% to 50.7% of all sales, 64.2% for condos
and 35.2% for single families…