Compared to this time last year, Florida housing market is strong and continuing in this positive trend. A report from Florida Realtors has shown that house sales in the region have increased by 11 percent compared to 2011 with pending sales having escalated by a staggering 40 percent. Throughout America house sales are up 9 percent but this still renders Florida in a leading position. However, when comparing median home prices, Florida is somewhat lower on the totem pole with $147,000 versus $188,000 nationwide.
In addition, according to data analysis undertaken by Coldwell Banker Real Estate LLC and Onboard Informatics of over 11,000 areas, for those who enjoy the suburban lifestyle, Cooper City, Parkland, Palmetto Bay, Jupiter Farms and Lake Charles Shores all rank among the top 20 best places to live. Factors tested included: good local schools; leisure activities; job opportunities; recreational outdoor activities and entertainment options.
So with real estate improving and quality of life in the region escalating, it would seem that the Florida housing market is out of the woods. However, with this good news comes some bad. There are concerns at a deflating inventory of properties for sale. With an inadequate amount of affordable homes on the market, further growth will be diminished in the long-term housing market.
Thus balance is key. Florida’s real estate market should continue to develop, but the hope is, that this should be with a focus on affordability for the masses.