I think that no one knows the answer to that, and if there is a little further drop it is safe to assume that anyone who buys now wil have bought in the bottom 5-10% of the market which is very good.
There was a new report issued today that may interest you regarding the prices in Miami, and how the proices are at an all time low and the sales have increased by 72% since this time last year. It is nice to have a good inventory to choose from and we still have that here.
If I can assist you in a search, feel free to contact me, and see my companies web-site for some great information and to search for properties.
All the best,
South Florida Brokers