Edgardo Defortuna: Condo Sales Are Off Peak, But Remain Healthy

Fortune International Group President Edgardo Defortuna says that Miami’s condo market is “preparing for the next wave”.

Defortuna told The Real Deal that although sales have been stagnant in recent months and are off 50 percent from their peak, price cuts are generally not happening.

He added that sales are “very good” considering market conditions (which have been hit by economic trouble in South America and Europe, along with Zika), and that Miami was “very healthy”.

Traffic and contracts at Fortune sales centers are up since the beginning of the year, according to Fortune’s Jim Cohen.