Momentum in the Housing Market: 2014 Updates!
Since 2010, the Floridian housing market
has been stabilizing, and this pattern continues through 2014. According to
Florida Realtors Association, Florida’s housing market has had an increase of
sales and median prices since 2013. In
fact, the statewide total for single-family houses sold in October was over
21,800, an increase of nearly 18% since October 2013. Statewide, even the sales price of single
family residences has increased nearly 5%.
Be assured, these are signs that
the housing market is not only gaining momentum, but truly stabilizing and
becoming a healthy and prosperous industry once again. According to Sherri Meadows, President of Florida Realtors,
October of this year marks the 35th month in a row (nearly 3 full
years) that the state wide median sales prices have rose for both single family
homes, and for townhouse-condo properties.
Florida is on track to close out
2014 with tremendous momentum, more than we’ve had in years. The statewide “closed
sales” for townhomes and condos reached over 9,000 just in October. The closed
sales data also shows that short sales for townhomes and condos have declined
55.6% from the previous year. Short
sales for single family homes have declined 47.6% from the previous year as
well.
The health of the Floridian real
estate economy is undeniable and the momentum seems to be unstoppable. Everything
Real Estate in Florida is heading in a positive direction. With the increase of
home sales and sustainable price changes in market, the Florida housing market
is booming!
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