Posted on: June 19, 2013
The first quarter housing report for Florida is showing positive statistics for Florida property investors. Median prices of homes have increased by 22%, inventory is decreasing, and homes are on the market for fewer days. Florida’s Housing Market Shows Momentum in Q1 2013 is a recent article from the Florida Realtors that outlines their housing data report for the first quarter.
Florida Realtors President Dean Asher explains why the housing market is gaining momentum; “More people went back to work as more jobs were created in Florida during the first quarter, and our population is also growing –which provide a solid foundation for growth in the housing market. It’s taking less time to sell a home and, coupled with tight inventory, that shows buyers are eager to lock in historically low mortgage interest rates and take advantage of favorable, but rising prices”. The article also quotes Florida Realtors Chief Economist Dr. John Tuccillo, “If you look back at the quarterly numbers, comparing year to year, you see, at least in single-family sales, the steadiness of the market since 2009. We expect that the year-over-year increases we have seen for the past several years will continue into 2014.”
Report comparisons from this time last year confirm that Florida’s housing market value has been increasing. With 2014 predictions heading in the same upwards direction, investing in Florida real estate is a great way to gain higher returns on your long term investments.
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Image source: Florida Realtors®