Fla.’s housing market shows positive momentum

Posted on March 23, 2015 by Rory Mark Schmer from South Florida
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Fla.’s housing market shows positive momentum

ORLANDO, Fla. – March 23, 2015 – Florida's housing market reported more closed sales, higher median prices, increased pending sales and more new listings in February, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 18,701 last month, up 19 percent over February 2014.

Realtors across the state are reporting increased interest from both buyers and sellers – and with interest rates expected to rise in the next few months, now is certainly the time to take action. "On the buyer front, new pending sales for existing single family homes in February increased 14.7 percent year-over-year; pending sales for townhouse-condo units increased 7.5 percent, On the sellers' side, new listings for single-family homes rose 5.5 percent year-over-year, while new townhouse-condo listings rose 3.1 percent.

"The Florida housing market continues to progress," says Florida Realtors Chief Economist Dr. John Tuccillo."As we have seen for nearly a year, all the metrics are moving in the right direction. It is difficult to pinpoint any one reason for this – and the reasons differ for different parts of the state. However, in an environment of low interest rates, the robust growth of employment in both the U.S. as a whole and specifically in Florida has made homeownership more accessible to Florida's households.

Considering buying, selling or renting Real Estate here in Miami-Dade, Broward or the Palm Beach Counties? We have resided here in South Florida for 45 plus years. Conducting Real Estate on a very high level! Making friends and building relationships.

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