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Depressed home values are driving up sales in South Florida, a new report by

LLC finds.

Residential resale inventory has fallen 21 percent, and pending sales have jumped nearly 66 percent in the last six months in Miami-Dade, Broward and Palm Beach counties.

On May 25, there were 84,962 single-family homes, townhomes and condo units on the market in the tri-county area, down from 107,527 in November.

There were 15,399 pending sales that week, compared with just 9,302 in November, according to the report.

"In the last six months, we have seen inventory decrease by between 1 percent and 2 percent on a week-over-week basis," said Peter Zalewski, a principal with the Bal Harbour-based real estate consultancy. "During the same period, pending sales have consistently increased by between 1 percent and 3.5 percent on a weekly basis since November. This trend suggests that summer – which historically is a quiet period – looks to be active."

Miami-Dade County has the most available residential resale properties, with 32,133, or 37.8 percent of the tri-county total. The inventory in Miami-Dade has fallen 21.6 percent in the last six months from 40,994 properties on Nov. 24, according to the report.

Broward County has the second largest share of properties for sale, with 27,669, or 32.6 percent of the regional total. In November, Broward had 36,926 residences for resale.

Palm Beach County has the fewest number of properties for sale, with 25,160, or 29.6 percent of the total. On Nov. 24, Palm Beach had 29,607 properties available for resale, according to the report.

Pending sales in Broward are up 80 percent in the last six months, to 5,934 contracts on May 25 from 3,295 deals on Nov. 24.

Pending sales in Miami-Dade are up 60 percent, to 6,789 deals on May 25 form 4,245 contracts six months ago.

Palm Beach County's pending sales are up 52 percent in the last six months, to 2,676 contracts on May 25 from 1,762 deals in November, according to the report.