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As South Florida home prices spiked during the pandemic, some people decided to put their home shopping on pause in the hopes that prices might drop, a decision they are coming to regret.

Now, a year-and-a-half into record price growth and dwindling inventory, non-buyers are stuck in a precarious situation: they want to buy, but are facing higher prices than they did when they first started searching and are finding themselves at risk of being priced out of the South Florida real estate market.

“They feel like they made a mistake at some point and they feel like they can’t catch up because the market is so far ahead of them that they can’t get back in,” said Alicia Cervera of Cervera Real Estate in Miami.