Thumbs up to both Gabe and kay for their posts.

Dale,

Port Saint Lucie was one of the fastest growing areas during the building boom. It was also one of the more affordable areas in Florida and blessed with a good location and climate. Many home buyers bought homes with risky mortgages that they didn't fully understand, also there were quite a few investors betting the housing market would continue to appreciate. Many of these folks can no longer afford their homes and that is why there are so many available homes.

If you look around the Country and Florida, you will find that those areas that had the biggest growth accompanied with speculative buying now have the most homes/condos on the market and have suffered the worst in price declines. See areas of Nevada, Arizona and California.

Many industry professionals feel it's now a good time to get into the market if you are looking for your own residence. But, it's tricky. Should you be interested, do your research and contact a good knowledgeable Realtor that can help you navigate the existing issues.

Dale,

Port St Lucie was the fastest growing area recently and with the downturn in the economy it is not uncommon that it would be the area that would now be the opposite extreme in this area. It is unbelievable the amount of home you can buy. Feel free to search for homes in this area directly from my website.

Kay Pearson, CRS
Associate Broker
Nettles Coastal Realty
Jensen Beach, Florida
Kay@NettlesCoastalRealty.com