Several recent reports indicate that real estate sales are slowing in Florida. Existing houses and condos which are listed in the MLS are taking longer to sell. The number of properties on the market has increased dramatically.

In Pinellas County, for example, according to the Pinellas Realtor Organization, ..."In March, single family inventory grew by over 11% since February and by 33% since last December. The amount of inventory sold (absprption rate)  in March was 14.7% of the total inventory, compared to March 2005, when 43.4% of the single family inventory was sold. The absorption rate for condos was 11% compared to 43% the previous March...".

Many  new home and new condo builders are offering incentives (if not price reductions).

Some Realtors have gone so far as to say that we have now entered a "Buyer's Market". Buyers have a greater opportunity of negotiating lower prices or concessions when there are more homes on the market than there are buyers to buy them.

So, if you are thinking about buying in Florida you can now take advantage of a slowing market.