Miami Homes, Florida housing market

South Florida Housing Market, Is the Worst Over?

Is the South Florida housing market finally bottoming out? Analysts agree that the scariest part of the downward slide is behind us.

New monthly figures from the Florida Association of Realtors shows existing Miami homes and Miami condos continued to post gains in May, the ninth consecutive month-to-month increase and a strong step in the right direction. Monthly declines appear to be stabilizing though sale prices are still way down from last year's numbers.

''If you look at the yardstick of housing sales, which is a typical yardstick, we are in the recovery stage and we're in the bottoming phases on pricing,'' said Coral Gables-based real estate analyst David Dabby.