Posted by Gregg Amaral on Friday, March 30th, 2018 at 1:00am.

A lack of supply in available homes is slowing in South Florida, however, the shortage of listings keeps pushing prices higher as buyers have little choice but to pay more for what they want.

Sales of existing single family homes declined in August from a year earlier in Palm Beach, Broward, and Miami-Dade.

It was the second consecutive annual decline in Palm Beach and Miami-Dade counties and the fifth in a row for Broward county.

Sales have been unable to break out because there are simply not enough homes for sale. Median prices have been on the rise in the trip-county area region since 2012.

Buyers need to focus on ready,aim,fire. As a buyer you need to be pre-qualified and ready to go. Prices will continue to rise for a while, however, we all know there is a top to the market. So is it the right time to buy? Is it the right time to sell? Yes and Yes. With prices continuing to rise you may not get a deal like you used to be able to, however, a few years from now your property purchased today could have increased as much as 40% in value.
Now is it the right time to sell? Yes. With home prices on the rise there is a good chance of having equity in your home. Buyers have limited choice in potential homes to purchase so they are willing to pay the right price for the right property.

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