According to Zillow, certain US housing markets will hit the bottom in 2012. Among the markets Zillow expects to reach its low price point during 2012 is: New York, Miami, Fort Lauderdale, Boston, Tampa and Orlando.
The feeder markets of New York and Boston bodes well for the South Florida market. Sellers who have been waiting to move down south for retirement might get more action on their homes if the market begins to show home appreciation. The sellers would most likely move more quickly in a rising market in Florida as opposed to waiting if they see prices continue to drop.
Zillow actually expects to see a significant rise in home prices in Phoenix, Miami, Fort Lauderdale and Tampa markets. Zillow expects Miami and Fort Lauderdale to increase by 5.6% and Tampa to go up 2.5%.
If true, rising home prices would be welcomed news in the South Florida housing market. It would increase confidence for sellers and spur buyers to not "miss out" on getting the most home for the least amount.
Presumably if prices are rising, mortgage rates will as well. Buyers might be inclined to move before rates rise and potentially price them out of homes that are attainable today.
As a local Relator, 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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