StatFunding Press Release
StatFunding Featured on Bloomberg Real Estate Radio
November 17, 2016Andrew Stearns, founder and CEO of StatFunding.com, was featured on Bloomberg Real Estate Radio today discussing the current state of the South Florida real estate market.
In Miami 4,525 condos were completed between 2012 and 2016 in 20 projects with 80 or more units. Of those units, 878 units are now listed for resale. Within that submarket only 43 units sold in the last six months. Over 10,000 new condo units are currently in construction in Miami to be delivered within the next 24 months.
Miami condo sales plunged about 30% year over year last month. Regarding the recent build in inventories and slow pace of sales, Stearns commented “this is the kind of thing that usually happens before a price correction. In the new construction luxury segment there’s over 10 years of supply of newly delivered supply in the market.”
The complete interview is available here:
The Bloomberg Radio Network is the leading provider of short-form business news reports to radio stations around the country. The network also provides "Bloomberg Market Minute" reports twice an hour, 24 hours a day.
StatFunding.com is a platform that allows individual and institutional investors to take fractional or whole participations in commercial real estate loans. StatFunding periodically releases internal reports on market conditions, which are widely considered to be the most in depth and accurate analysis of the state of the Miami condo market.
Publications issued by StatFunding are available for download here:
Reporters May Contact: