South Florida Real Estate- Buying and Selling Homes in the Boca Raton Area: 2013

Showing posts with label 2013. Show all posts

Friday, April 25, 2014

Case Shiller Price Index: December 2013: Heat Remains In South Florida Real Estate Market

The South Florida real estate market continued to have price appreciation in December 2013, according to the Case Shiller Index. The Index indicated there was almost a 1.0% sequential increase and a 16.5% year-over-year increase in December 2013. This compares with a relatively flat prices on a sequential basis for the US and only a 13.5% annual increase in December 2013 for the US.

David Blitzer, Chairman of the Index Committee said, "The Case Shiller Index ended its best year since 2005. However, gains are slowing from month-to-month and the strongest part of the recovery in home values may be over."

He went on to say, "Recent economic reports suggest a bleaker picture for housing. Existing home sales fell 5.1% in January from December to the slowest pace in over a year. Permits for new residential construction and housing starts were both down and below expectations."

We are noting here that the Florida market has shown some of its strongest year-over-year growth comparisons during the December 2013 timeframe. A seasonally strong period for the South Florida market is the winter months; however, the comparison was with same period the previous year. We think this shows the South Florida real estate market continues to be a strong market with upward momentum in pricing.

Here are other areas of interest:

December	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.65	-0.10%	9.60%

Chicago	125.29	-0.50%	11.30%

Miami	177.57	0.90%	16.50%

Minneapolis	138.14	-0.70%	9.70%

New York	172.18	-0.30%	6.30%

Tampa	155.23	0.30%	15.80%

Composite 10	180.13	0.00%	13.60%

Composite 20	165.69	-0.10%	13.40%

Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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

Sunday, February 16, 2014

Case Shiller Price Index: November 2013: US Price Increases Start To Cool, Florida Remains Hot

Case Shiller Housing Report showed the South Florida market increased 1.1% on a sequential basis in November 2013, while the US slowed by -0.1% during the same time. On a year-over-year basis, South Florida's home prices were up 16.5% in November 2013, according to Case Shiller, and the US increased by about 13.7% during the same time.

The Case Shiller report noted, " Despite the slight decline (for the US), the (US composites) showed their best November performance since 2005. The report seems to indicate that despite a somewhat soft sequential decline, the US market was the most aggressive in the month of November since 2005.

The report also noted prices continued to rise despite an increase in mortgage rates during May 2013. Also, it was noted that mortgage applications were up as well.

Other areas of interest:

Nov-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.78	0.20%	9.80%

Chicago	125.87	-1.20%	11.00%

Miami	176.02	1.40%	16.50%

Minneapolis	139.05	0.00%	10.50%

New York	172.54	-0.40%	6.00%

Tampa	154.7	0.20%	15.70%

Composite 10	180.15	-0.10%	13.80%

Composite 20	165.8	-0.10%	13.70%

Source:
S&P Indices
Firserv

Case Shiller Price Index: October 2013: Florida's Home Prices Rebound Outpaces US in October 2013

The South Florida real estate market saw a 15.8% price increase in October 2013, over the previous year, according to the Case Shiller Housing Price Index. On a sequential basis, the South Florida market was up 1.1% in October 2013, according to Case Shiller.
The US continued to show upside price appreciation of 0.2% on a sequential basis in October 2013 and 13.6% year-over-year price appreciation during the same time frame, according to Case Shiller.

I continue to see solid demand for homes in the South Florida market. The Case Shiller report highlighted the South Florida market in its report: [the South Florida market's] "annual rate increased the most from 14.3% in September to 15.8% in October."

In regards to 2014, the Case Shiller report stated, "Most forecasts for home prices point to single digit growth in 2014." The quote is referring to price appreciation for the US housing market in 2014.

Some areas of interest:

Oct-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.43	-0.30%	8.60%

Chicago	127.42	-0.50%	10.90%

Miami	173.63	1.10%	15.80%

Minneapolis	139.11	0.50%	11.30%

New York	173.23	0.00%	4.90%

Tampa	154.4	0.10%	15.20%

Composite 10	180.27	0.20%	13.60%

Composite 20	165.91	0.20%	13.60%

Source:
S&P Indices
Firserv

Sunday, December 8, 2013

Case Shiller Housing Index: September 2013: South Florida Market Continues To Outpace US Price Increases

Home prices in the US were near mid-2004 levels in September 2013, according to the Case Shiller Index.

The US market as indicated by the Case Shiller Composite 10 and Composite 20 showed a year-over-year increase of 13.3% in September 2013.

The South Florida market had a more robust price increase of 100 basis points when compared with the US market as a whole. The South Florida home market was up 14.3% on a year-over-year basis in September 2013, according to the Case Shiller Index report.

The report touched upon a concern about a potential "bubble" in the housing market. The commentary noted, "the strong price gains in the West are sparking questions and concerns about the possibility of another bubble." The report also pointed out home construction is below the boom levels and interest rates are expected to rise.

Other areas of interest:

Sep-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	169.04	0.50%	7.50%

Chicago	128.05	0.30%	9.70%

Miami	171.7	0.80%	14.30%

Minneapolis	138.4	0.80%	10.10%

New York	173.45	0.60%	4.30%

Tampa	154.24	0.20%	14.50%

Composite 10	180.03	0.70%	13.30%

Composite 20	165.66	0.70%	13.30%

Source:
S&P Indices
Firserv

Sunday, November 24, 2013

Case Shiller Housing Index: August 2013: US Home Prices Continue To Rise, But At Slower Pace

The US housing market showed a price increase of 1.3% on a sequential basis and 12.8% on a year-over-year basis in August 2013, according to Case Shiller Housing Index.

The Sequential increase for the US housing market hit a zenith of 2.6% in April 2013 and has been increasing at a declining rate since.

The South Florida market has had a similar trend with the peak of sequential increases being 2.6% in May 2013. We also see sequential price increases for home sales at a declerating rate since May in the South Florida housing market.

The South Florida market continues to show robust price increases from a year ago, with a 13.5% year-over-year increase in August 2013. South Florida continues to outpace the US housing market for price increases as a whole on a year-over-year basis.

With the Federal Reserve situation relatively settled with Janet Yellen set to be confirmed, I foresee confidence in the market for continued low mortgage rates. This should be a positive for the housing market for 1H:14.

If you are looking to buy a home, this could be a good time as prices continue to show an inclination to increase. Sellers should be in a good position in the near-term. I work with both buyers and sellers, so please contact me if you are making a move in the South Florida market.

Other areas of interest:

Aug-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.27	0.70%	6.30%

Chicago	127.68	1.60%	8.70%

Miami	170.41	0.80%	13.50%

Minneapolis	137.34	1.80%	10.20%

New York	172.46	1.10%	3.60%

Tampa	153.93	1.80%	14.10%

Composite 10	178.75	1.30%	12.80%

Composite 20	164.53	1.30%	12.80%

Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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

Sunday, October 27, 2013

US Foreclosure Inventory Was Down As Of August 2013

Corelogic, a real estate consulting firm, reported 48,000 completed foreclosures in August 2013, down from 72,000 a year ago.

The company reported 939,000 of US homes were in some stage of foreclosure as of August 2013. The year-ago number was around 1.4 million homes, according to Corelogic. An economist for Corelogic stated, "A surge in completed foreclosures and a rise in the foreclosure inventory is unlikely."

Corelogic reported Florida lead the country with 111,000 foreclosures during the 12-months ended August 2013. For the country, the company reports fewer than 2 million homes in the "shadow inventory" of foreclosures, which it estimates constitutes about 3.7 months worth of supply.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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

Saturday, September 28, 2013

Almost Half of US Home Sales Were Cash Purchases In August 2013

According to RealtyTrac, about 45% of US home purchases were cash deals in August 2013. Miami , FL was the leading area with about 69% of sales being for cash, followed by Detroit (68%), Las Vegas (66%), Jacksonville, FL (65%) and Tampa, FL (64%).

RealtyTrac reported 15% of US home sales were short sales in August 2013 and foreclosures made up about 10% of the US home sales.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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

Friday, September 27, 2013

Case Shiller Housing Index June 2013: South Florida Price Increases Continue To Outpace US

As of June 2013, the average US home price was about 23% off the peak of June/July 2006, according to the Case Shiller Index. The bottom of the US housing market was March 2012 with the market improving around 19% in price appreciation since that time, according to the Case Shiller Index.

On a year-over-year basis the South Florida housing market appreciated 14.8% in June 2013 over June 2013, according to Case Shiller. The Case Shiller Composite for the US was up about 12% during the same time. On a sequential basis the South Florida market was on par with the US composite of about 2.1%, according to Case Shiller.

The Case Shiller report for the month noted "despite recent increases in mortgage interest rates, affordability is still good as credit qualifications have eased somewhat."

The South Florida housing market rebound has continued during the "off-season" months. There are some pockets of the South Florida market that favor sellers. It is important to work with an agent who understands your needs and how it matches with the current state of the local market and its individual sub-strata.

Other areas of interest:

June	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	164.75	1.70%	6.70%

Chicago	121.81	3.30%	7.30%

Miami	167.1	2.10%	14.80%

Minneapolis	132.47	2.30%	11.50%

New York	168.65	2.10%	3.30%

Tampa	147.69	2.10%	11.10%

Composite 10	173.37	2.20%	11.90%

Composite 20	159.54	2.20%	12.10%

Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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

Sunday, August 25, 2013

Case Shiller Housing Index: May 2013: US Price Rebound Continues; South Florida Market Remains "Hot"

The US housing market price rebound continued in May 2013, according to the Case Shiller Housing Index. On a sequential basis the market was up about 2.6% in May 2013 over April 2013. On a year-over-year basis the market was up about 12%, according to Case Shiller Housing Index.

The South Florida market improved 2.4% on a sequential basis in May 2013, which was inline with the nation, according to Case Shiller. However, the Case Shiller Index showed a year-over-year increase of 14.2% for the South Florida market in May 2013 over May 2012; this was better than the overall US market.

The average US home price was back to the spring 2004 levels, according to Case Shiller. The US market is approximately off 25% from the highs in June/July 2006. The index showed a trough in March 2012 and a recovery in home sales prices of about 16% from that time.

Other areas of interest:

May-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	161.94	1.80%	7.50%

Chicago	117.9	3.70%	8.50%

Miami	163.73	2.60%	14.20%

Minneapolis	129.55	2.20%	14.10%

New York	165.44	1.60%	3.30%

Tampa	144.61	1.80%	10.90%

Composite 10	169.69	2.50%	11.80%

Composite 20	156.14	2.40%	12.20%

Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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

South Florida Real Estate- Buying and Selling Homes in the Boca Raton Area