The real estate market in South Florida is turning the corner for the better. Recent reports show that Miami/Ft. Lauderdale is leading the country in the turn to a more positive housing market. The collapse in home values that this area experienced since 2006, is still on top of most people’s minds. However, market indicators state prices have already stabilized and could actually appreciate in 2012.
Zillow: “Though Zillow has projected 4% decline in several other Florida regions, they believe that the prices in the Miami/Ft. Lauderdale market will remain stable over the next 12 months.”
Bank of America: “Home prices in many non-distressed markets are already and unexpectedly on the rise…Within those non-distressed markets, Miami experienced the most rapid growth in 2011 at 7%.”
National Association of Realtors: “ released their fourth quarter Median Sales Price Report for Condos and Coops which showed that condo prices in the Miami/Ft. Lauderdale market have increased in each of the last four quarters.”
Please be aware that home prices across the country are expected to soften this year, but not in Miami-Dade or Broward Counties where it is reported they have already stabilized and could actually appreciate.
Deena Landsman is a residential realtor specializing in the Aventura and surrounding communities. She makes it a priority to give her customers the attention and sound business advice they need in order to make smart decisions. Please contact Deena at 954-559-0602 or Deena@DeenaLandsman.com.