Miami-Dade and Broward Counties showed some positive home sales trends in August 2011.
Existing conco sales in Miami-Dade were up 51% from last year and 18% on a sequential basis in August 2011. Single-family homes had a 49% year-over-year increase and a 9% sequential uptick.
In Broward County, annual sales increased 21% for existing condos and single family homes rose 19% in August 2011.
When looking at the pricing there were upward trends as well. Miami-Dade existing condos sold at a 13% increase in August 2011 over August 2010; single family homes dipped 1%.
Broward's median price for existing condos rose by 6% in August 2011 on a year-over-year basis and single family home prices increased 5%.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
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
Showing posts with label Miami Dade County. Show all posts
Showing posts with label Miami Dade County. Show all posts
Saturday, October 8, 2011
Saturday, August 13, 2011
Case Shiller Predictions For Home Prices In The US, Miami-Area And Fort Lauderdale Area: Homes For Sale: Homes For Rent
Case Shiller now predicts the US housing market will continue to see price declines into 2013. Case Shiller believes US home prices will be on par with prices in 1Q:11 in 1Q:13.
Case Shiller expects median home prices in the US to fall by an average of 3.1% between March 31, 2011 and March 31, 2012. After that, it expects to see prices increase by 2.7% until 1Q:13.
The reasons for this prediction is the weak job market and expectation for an economic recovery in the US. They point out the percentage of Americans who have jobs reached a 28-year low in July 2011. As a result, they argue despite attractive housing affordability, too few people can take advantage because of tightened lending standards.
With respect to two markets of interest: Miami metro area and the Fort Lauderdale metro area:
Case Shiller forecasts a further 22.8% decline over the next 24 months ending in March 30, 2013 in the Miami metro area(this is after prices fell 54% from the peak).
Case Shiller forecasts another 18.9% decline in home prices in the Fort Lauderdale area over the next 24 months ending in March 30, 2013.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
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
Case Shiller expects median home prices in the US to fall by an average of 3.1% between March 31, 2011 and March 31, 2012. After that, it expects to see prices increase by 2.7% until 1Q:13.
The reasons for this prediction is the weak job market and expectation for an economic recovery in the US. They point out the percentage of Americans who have jobs reached a 28-year low in July 2011. As a result, they argue despite attractive housing affordability, too few people can take advantage because of tightened lending standards.
With respect to two markets of interest: Miami metro area and the Fort Lauderdale metro area:
Case Shiller forecasts a further 22.8% decline over the next 24 months ending in March 30, 2013 in the Miami metro area(this is after prices fell 54% from the peak).
Case Shiller forecasts another 18.9% decline in home prices in the Fort Lauderdale area over the next 24 months ending in March 30, 2013.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Also, text me your name and e-mail address if you would like home search capabilities.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
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
Tuesday, March 22, 2011
Homes For Sale: 1Q:2011: Vacant US Homes and Vacant Florida Homes
The US housing recovery will most likely be on hold for years. There are many reasons as to why, however, one that is becoming more glaring is the amount of vacant homes in the United States. The oversupply of homes should depress new home builds and take a while for the market to return to an equilibrium between supply and demand.
In March 2011, the US Census Bureau revealed that 1.6 million homes in Florida are vacant-- that is 18% of the total. The number of vacant homes increased 63% during the past 10 years.
Florida is the worst state in the nation for vacant homes; Arizona sits at 16%; Nevada is 14% and California is only 8%.
The worst hit county in the state of Florida is Collier, the home of Naples, which stands at 32% of the total homes being empty. Palm Beach comes in at 18%; Broward is 16%; and Miami-Dade is 12%.
The median home in Florida sold for $122,000 in January 2011, which is down 7% from 12 months earlier; this is less than half the price reached at the market peak. The oversupply and reduced influx of people to Florida are reasons to be cautious about the market. During the decade of 2000, the state saw just 5.7% population growth in the second half; the decade had a nearly 18% increase of population during the decade.
The aforementioned statistics are why some real estate experts think it will take a while for the Sunshine State's housing market to appreciate in price. One expert is quoted as saying it taking eight years for the vacancy numbers to reach single digits.
Ingo Winzer, a market analyst for Local Market Monitor is quoted as saying prices will drop another 5% in 2011 and an additional 3% in 2012. Celia Chen, a market analyst for Moody's Analytics says prices will fall another 11% and the bottom won't hit until mid-2012 for Florida; she predicts a market bottom for the United States during mid-2011.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser
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>
In March 2011, the US Census Bureau revealed that 1.6 million homes in Florida are vacant-- that is 18% of the total. The number of vacant homes increased 63% during the past 10 years.
Florida is the worst state in the nation for vacant homes; Arizona sits at 16%; Nevada is 14% and California is only 8%.
The worst hit county in the state of Florida is Collier, the home of Naples, which stands at 32% of the total homes being empty. Palm Beach comes in at 18%; Broward is 16%; and Miami-Dade is 12%.
The median home in Florida sold for $122,000 in January 2011, which is down 7% from 12 months earlier; this is less than half the price reached at the market peak. The oversupply and reduced influx of people to Florida are reasons to be cautious about the market. During the decade of 2000, the state saw just 5.7% population growth in the second half; the decade had a nearly 18% increase of population during the decade.
The aforementioned statistics are why some real estate experts think it will take a while for the Sunshine State's housing market to appreciate in price. One expert is quoted as saying it taking eight years for the vacancy numbers to reach single digits.
Ingo Winzer, a market analyst for Local Market Monitor is quoted as saying prices will drop another 5% in 2011 and an additional 3% in 2012. Celia Chen, a market analyst for Moody's Analytics says prices will fall another 11% and the bottom won't hit until mid-2012 for Florida; she predicts a market bottom for the United States during mid-2011.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser
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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