More single-family houses are for resale in Palm Beach County than any other county in the South Florida region, and the number of homes available on the market is growing, according to a new report from CondoVultures.com.

Palm Beach County, where Boca Raton, Delray Beach, and West Palm Beach are located, has 10,284 single-family houses for resale as of Monday, March 8, which is up 3.6 percent since Thanksgiving week in November 2009, according to the report based on Florida Association of Realtors data.

By comparison, Miami-Dade County, where Coral Gables, Key Biscayne, and Miami Beach are located, has 8,354 single-family houses for resale, down 6.4 percent from November 2009. Broward County, where Fort Lauderdale, Hollywood, and Pompano Beach are located, has the fewest number of single-family houses for resale with 8,114, which is unchanged percentagewise from November 2009, according to CondoVultures.com.

"We are not sure if the financial devastation caused by Bernie Madoff's Ponzi scheme or the growing unemployment rate coupled with the lack of population density in Palm Beach County is the cause," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC. "Clearly the number of single-family house for resale in the Palm Beach County market continues to head in an opposite direction from Miami-Dade and Broward counties.

"One explanation we have heard from industry watchers is that some owners who are not necessarily distressed are putting their homes up for resale thinking the market has already begun to stabilize." 

In South Florida, there are currently 67,850 single-family houses, condominium units, and townhouses on the market in the tricounty region of Miami-Dade, Broward, and Palm Beach counties. Single-family houses account for 39 percent, or 26,752 homes, of the overall South Florida residential resale inventory. Palm Beach County represents 38 percent of the single-family house inventory.  

On Nov. 24, 2008 when CondoVultures.com first began tracking available inventory, there were nearly 108,000 residences available for resale in South Florida. Single-family houses represented about 43 percent, or about 46,600 residences, of the available resale inventory at that time. 

Palm Beach County at the time had about 14,200 single-family houses available for resale, accounting for 31 percent of overall South Florida house inventory.

Back in 2008, Miami-Dade County led the region with about 16,600 single-family houses - some 35 percent - for resale. Broward County accounted for 34 percent of the inventory with 15,800 single-family houses up for resale, according to CondoVultures.com.

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Don't forget to sign up for our weekly Market Intelligence Report™ for detailed condo reports. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ or view our Video Gallery. Looking for bulk projects direct from developers or lenders? Visit the Condo Vultures® Bulk Deals Database. Our new books, the Official Condo Buyers Guide to Miami™ , Official Condo Buyers Guide To South Beach™, Official Condo Buyers Guide to Sunny Isles Beach™, Miami's Great Condo Crash: A Chronicle of the Boom and Bust™ , and the First-Time Home Buyers Guide To South Florida™ are now available. Want to see every foreclosure filed in South Florida since 2007? Check out our Foreclosure Database™.

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