On a year-over-year basis, the housing market showed signs of strength in May 2012 over May 2011. The amount of closed sales rose, median prices increased and housing inventory levels dropped, according to data released by Florida Realtors.
Sales of single family homes in Florida increased 7.2% and townhouses and condominium sales increased 5.4% during May 2012 over May 2011, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.
The state of Florida saw median sales prices for single family homes increase 8.9% and median townhouse and condominiums were up 14.3% in May 2012 over May 2011, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.
Florida Realtors Chief Economist Dr. John Tuccillo said homesellers in the Florida market "are receiving a higher percentage of their asking price." He is also quoted as saying the following: "Perhaps the most striking characteristic of this market has been the dramatic drop in inventories. Now, Florida is in what is generally considered a balanced market-- that is, one that favors neither buyers nor sellers."
As a Realtor in the local South Florida market, I am experiencing a similarity to what was discussed above about the state of Florida's housing market. There seems to be more activity and inventory levels seem to be dropping. I think the housing market will see prices remain relatively steady for the remainder of 2012 (2H:12). However, a sustained buzz about dropping inventory levels and price increases is now more prevalent than anytime during the past year, in my opinion.
As a local Realtor, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://mysouthflrealestate.com/
Referrals are appreciated and welcomed.
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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The market trend in Florida has positiviely change and this could become a good sign for them in the growing market. florida real estate license course
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