It has been well documented that the macro US real estate figures get weighted down by Michigan, California, Arizona, Nevada and Florida.   The luxury residential market in Florida is seeing a difficult time absorbing both condominiums and single family homes.  It seems buyers are waiting for someone to scream that Florida has hit bottom before they justify any moves.  The below article was written surrounding the recent international builders show in Orlando.  A few experts believe the bottoming out will occur this year.  Until that happens, the article references a survey where one-third of home builders believe their new homes have appraised for less than the costs of construction: South Florida Sun-Sentinel

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