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Miami condo prices jump 38 percent in first quarter, inventory falls 33 percent
The median sales price of a Miami-Dade County condominium rose by 38 percent in the first quarter, compared to the same period in 2011, according to a report from the Miami Association of Realtors. The median single-family home sales price rose to $174,799, a 14 percent increase compared to the first three months of 2011. “In the first quarter, we have seen further decline of housing inventory in Miami-Dade County, coupled with consistent and significant price appreciation,” said Martha, 2012 Chairman of the Board of the Miami Association...
read moreIs housing as cheap as it’ll ever get?
Homebuyers who want a bargain may want to act now because the housing market is in the midst of a turnaround, economists say. Home prices have fallen and mortgage rates are hovering near record lows, pushing home affordability for the average family to record highs. Meanwhile, rents have been on the rise, making owning a home cheaper than renting in most areas of the country, according to recent surveys. But the housing deals aren’t expected to stick around much longer. An improving job market, a decrease in the number of homeowners falling...
read moreReal Estate’s Bidding Wars Are Back
Real Estate’s Bidding Wars Are Back Pending-home sales in March hit their highest level since April 2010, spurring the return of real-estate bidding wars.
read moreEconomist: Florida existing home prices could rise 10 percent in 2012
Existing home prices in Florida could increase by as much as 10 percent by the end of this year, according to Lawrence Yun, the chief economist for the National Association of Realtors, the Palm Beach Post reported. “Compared to other parts of the country, the Florida market, particularly the South Florida market, is [recovering] very rapidly from oversupply to a shortage of inventory,” Yun said at a conference in Palm Beach. “That clearly implies we will begin to see some modest turnaround
read moreFlorida housing market on positive track in Feb.
Pending sales and median prices rose, while the inventory of homes for sale dropped in Florida’s housing market in February, according to the latest housing data released by Florida Realtors®. “Growing optimism about the economy, gains in the state’s jobs market and continued low mortgage rates are generating interest in Florida real estate,” says 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Increased statewide pending sales for both single...
read moreMiami, Fort Lauderdale office markets in recovery, according to survey
The market for office space in Miami and Fort Lauderdale is leading the rest of Florida and a bright spot in the Southeast, according to a survey conducted by PricwaterhouseCoopers, the South Florida Busines Journal reported. While vacancy rates remain high, at 19.2 percent in Miami-Dade County, 17.2 percent in Fort Lauderdale and 21.3 percent in Palm Beach, investor confidence is high. As for other sectors of the South Florida commercial market, Miami and Fort Lauderdale showed a recovering retail market, and Miami was showing strength in the...
read moreRenters are losing their leverage
During the boom years of home buying, property manager Charlie Biter used to offer new apartment tenants one or two months’ free rent as a lease enticement. Now, as rental demand continues to surge, no such offers are necessary. “Back then, everybody was being creative to bring renters in,” said Biter, who oversees 2,000 apartment units in the Nashville area for Continental Property Management. “But now I’m not aware of any units offering concessions.” Across the country, as more people compete for apartments in the wake of the...
read moreFla. housing market upbeat in Jan. 2012 Sales prices rose 5.3% for single family, 18.8% for condos, and inventory declined. NAR reports 4.3% sales increase
Feb. 22, 2012 – Florida’s housing market reported gains in median sales prices and a reduced inventory of homes for sale in January, according to the latest housing data released by Florida Realtors®. “We’re seeing positive signs of a strengthening recovery in Florida’s housing market,” says 2012 Florida Realtors President Summer. “In both the statewide single-family and condo-townhome markets, pending sales are higher and the statewide median sales price rose – up 5.3 percent to $129,000 for single-family homes and up 18.8...
read moreForeclosure activity edges higher in Jan.
RealtyTrac: Foreclosures rose 8% nationally last month from Dec., but down 15% from year earlier; Fla. still in top 10 Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year as lenders sorted out foreclosure-abuse claims. Foreclosures rose 8 percent nationally last month from December, but were down 15 percent from a year earlier, foreclosure listing firm RealtyTrac Inc. said Thursday. Despite the annual decrease at the national level, some...
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