The Housing Market in South Florida is Bouncing Back!

The Housing Market in South Florida is Bouncing Back!

Brittany Bosher
Posted by Brittany Bosher
| Internet Marketing Team
Updated on
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Published in Market Updates
Housing Market in Florida Makes A Come Back!

News of the real estate market in south Florida making a come back has been making headlines. According to the recent home price index released by Standard & Poor (S&P) in January of 2012, the prices of homes in Palm Beach, Broward and Miami-Dade Counties have risen considerably. Since October of 2011, the home prices have risen 0.8 percent and a whopping 9.9 percent from the year before. October was the 11th consecutive month that home prices have grown in these three counties on an annual basis, according to the Sun Sentinel.

The chairman of the S&P price index, David M. Blitzer, stated, “Prices are rising, as are both new and existing home sales.” He also made the comment that the “housing market is clearly recovering.” His enthusiasm and the positive numbers are great inclinations for what the future is holding for south Florida’s housing market.

New Home Starts Make Way in Palm Beach County!Another positive indicator for a healthier, housing market is the growth in “home starts” or new construction. When we see new construction in our areas it is indicative of a better economy as buyers show “a renewed faith in the region’s housing market,” according to an article in the Sun Sentinel. Last year in Palm Beach County we saw a 37 percent increase in the, single-family home starts from 2011. During the housing crisis a few years back we saw new home development take a tumble, now we are seeing new buildings shooting up again.

The market is making a come back, prices are going up and new homes are being built. However, mortgage rates are still, fairly low allowing buyers to capitalize on this precious time. This is the time to buy before home prices make a full recovery and mortgage rates climb! As demand increases, local builders are boosting prices. Palm Beach County has been seeing some of the strongest percentage increases because the availability of land is in short supply. So, if you are considering purchasing in south Florida, strike while the iron is hot!

Our team of specialists will help you find your dream home in no time! Whether you are looking in Stuart to Hobe Sound, Jupiter to North Palm or Weston to Miami, Waterfront Properties & Club Communities has something to offer for you!

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The data relating to real estate for sale on this web site comes in part from a cooperative data exchange program of the Realtor® Association of Martin County, Inc. MLS. Real estate listings held by brokerage firms other than Waterfront Properties and Club Communities are marked with the IDX logo (Broker Reciprocity) or name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed.

IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Copyright 2024 Realtor® Association of Martin County, Inc. MLS. All rights reserved.

Listing information last updated on February 20th, 2024 at 6:15pm EST.

The data relating to real estate for sale on this web site comes in part from a cooperative data exchange program of Palm Beach Board of Realtors Multiple Listing Service. Real estate listings held by brokerage firms other than Waterfront Properties and Club Communities are marked with the listing broker's logo or name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed.

The broker providing this data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

© 2024 Palm Beach Board of Realtors Multiple Listing Service. All Rights Reserved.

Listing information last updated on February 20th, 2024 at 6:15pm EST.

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®, and is updated as of February 20th, 2024 at 6:15pm EST (date/time).

All information is deemed reliable but not guaranteed by the MLS and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Waterfront Properties and Club Communities shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. © 2024 MLS of MAR.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing

Beaches Multiple Listing Service LogoAll listings featuring the BMLS logo are provided by BeachesMLS, Inc.This information is not verified for authenticity or accuracy and is not guaranteed.Copyright © 2024 BeachesMLS, Inc.

Listing information last updated on February 20th, 2024 at 6:15pm EST.