MIAMI-It feels like 2006 again—maybe not with prices, but withthe volume of resales. Indeed, more South Florida residences resoldthis year than in the finale of the real estate boom in 2006.

That’s because buyers are rushing to market to get in on deepdiscounts on distressed properties, as well as the Obama-funded$8,000 credit for first-time home buyers. So says a new report fromCondoVultures.com.

"Today's South Florida real estate market is strictly a functionof price, not emotion," said Peter Zalewski, a principal withthe Bal Harbour, Fla.-based real estate consultancy Condo Vultures."Nearly 7,400 more residential resale transactions have occurred inthe year 2010 than in the year 2006 due in large part to thecurrent prices that are 40 percent less on average. Now, considerthe widespread concerns that exist today about a possibledouble-dip or the lack of available financing, and then comparethis mood to the bullish outlook and easy credit of 2006."