The property market in northwest Florida is improving. Figures for the end of 2012 on a high note. Sales figures for November 2012, issued by Florida Realtors indicated significant improvement from a year earlier, most notably in Okaloosa, Santa Rosa and Walton counties, which witnessed an average escalation of close to 35 percent.
So what is the reason for this optimistic trend? According to one expert, it’s all about supply and demand, which is completely in play in this market right now. 2012 president of the Emerald Coast Association of Realtors, Judi Rutland also noted that right now there are great deals for buyers and investors. This results in those listings that were overpriced being forced to readjust or come off the market. This leads experts to believe that in northwest Florida the market is improving.
And it seems that the feeling of optimism is not just restricted to the northwest of the region. For South Florida homeowners, 2012 has been described as “the best year for housing since the housing crash began in the first part of 2006.” Should this trend continue, it looks like the damage caused by the housing crisis should be erased by early 2019. In 2012, figures for the South Florida real estate market should an average 1 percent increase per month from January to October.
Thus the figures above show that if trends continue as they have been for the last 12 months, Florida is set to make a complete recovery from the housing crisis that started more than six years ago.