Florida’s housing market on the road to recovery?

The end of March is quickly approaching, and the first quarter of the year has just flown by with excessive speed.  Is this year the year that you are going to finally jump into home ownership? Well just this week Freddie Mac reported that fixed interest rates dipped this
week. The average rate on a 30-year fixed mortgage fell to 4.76 percent from 4.88 percent the previous week. 

The 15 year fixed rate is 3.97 percent from 4.15 percent last week.  The last time it fell below 4 percent was in mid-December. 

In addition to declining interest rates, the state of Florida housing market has been showing signs of improvment.  The home prices are climbing and the inventory is slimming down.  The
FloridaRealtors.org reports that compared to last year at this time the numbers have been climbing.

Florida’s existing home sales previous year comparison


Florida’s existing condo sales previous year comparison


Florida’s existing home median price


Florida existing condo median price


As you can see from the statistics gathered that we are gaining positive momentum with consumer confidence steadily increasing, it appears that our once fragile housing market may be on it’s way to recovery.  If you are in the market to buy a new home the time is
now.  The home prices are increasing, inventory slimming and interest rates remain low.   If we can help you with your buying or selling needs we look forward to hearing from you.

Yours in Success,

The Florida Future Realty Team