If the seller is foreclosed than he's not gonna be buying a replacement for 5 years+. If the seller was an "investor"/flipper then there is no replacement home to buy.
im in the roads...near brickell, coconut grove about a rock throw away from the entrance of key biscayne... the condo im refering to is on coral way and like 35th avenue...
That assumes every seller lives in the house he/she is selling. When I was out west a few years ago I ran into a guy that had 19 new houses under contract. It wasn't unsual to hear about flippers with 2-5 contracts on, just looking to flip before the house was completed. When I left to come back east, there were 39,000 houses for sale in Phoenix and 18,000 were vacant.