Inventory’s on the rise, as resi sales keep dropping across South Florida

More homeowners are putting their properties up for sale across South Florida, but inventory levels are still at pre-pandemic levels.  At the same time, residential sales continued to fall in most markets across the tri-county region, according to Douglas Elliman’s second quarter reports. The theme continues of higher-end markets outperforming lower-priced markets. And in markets where the median price is highest, the share of cash sales is also high, said housing expert and appraiser Jonathan Miller, who authors the Elliman reports.  “More affluent people have workarounds for mortgage rates,” Miller said. “If you have a wealth manager, you’re not paying […]This article originally appeared on The Real Deal. Click here to read the full story.