During the residential real estate boom of 2002 through 2006, the run-up in prices of single-family homes and new condominiums created a separate residential market segment: the conversion of apartment complexes into condominiums for sale.
Miami-Dade County was the incubator and epicenter of the trend, which spread to Broward and Palm Beach counties, then across the state and throughout the country. The area also was a leading-edge market indicator of what would happen nationally when the boom ended.
