Booming housing industry slows in South Fla.

Matthew Haggman, Lisa Arthur and Tim Henderson of The Miami Herald analyzed home sales over the past five years and found South Florida has gone through the most explosive housing boom in its history. "The land rush has transformed just about every corner and corridor of the region, sending prices skyward since 2000 — more than 150 percent in Pompano Beach, more than 200 percent in Hallandale Beach and Sunny Isles Beach, and 250 percent in North Bay Village. " But it is predicted that South Florida's 5-year run of annual price jumps of anywhere from 12 percent to more than 20 percent is ending. Prices have wobbled in recent months, with sellers lowering their expectations. Houses are sitting longer on the market — the average time needed to sell a single-family home in Broward County has jumped from 34 days six months ago to 53 days.