Below is a chart that shows the trends for median home price and home sales for the Miami Metro area from January 2007 through August 2011.
It appears since the beginning of 2009 that the median home price has stablized. That is some good news, unfortunately though home sales are flat. So it definitely seems to be a good news - bad news situation. Things don't seem to be getting any worse but we don't see rapid improvement either. Stay tuned for more updates on this blog.