Good News: South FL. is No Longer the Worst Market to Sell a Home

Based on research by Altos Research and Real IQ, Chicago is now the toughest place in America to sell a home.

This is cause for celebration as South Florida has been the worst market for home sales since 2007.

The time in which it takes to sell a house in South Florida has dramatically reduced over the last three months.

Home buyers have received several warnings recently regarding reduced home supply. With declining inventory of homes; home buyers are finding that they have to make quicker deals.

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Nothing but an Improving Economy

January is the 17th straight month to show year-over-year improvements in existing home sales. This is great news, proving that the economy only continues to improve.

I was shocked to learn that condo sales in Miami-Dade had risen by 10.2% from January to February. It seemed that the Miami-Dade condo market would never improve, but it has. In the last year condo sales have shown an 87% increase.

There are still many people out there who refuse to accept that there are definite improvements in the economy but the changes are everywhere. Traffic to our sales offices have increased, interest in homes and the actual purchase of homes has gone up.

People will soon realize that the number of available new homes will go drastically down. If home buyers don't take advantage of the available houses now they may have to wait until others are constructed. There is limited inventory and the demand is growing quickly.

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Increasing Home Prices Offer Hope of Stability in South Florida

Increases in home prices are a definite sign that the housing market in South Florida is stabilizing. After many months of living in what appeared to be a permanently troubled housing market it now seems that we are passing the bottom.

Home prices have already seen increases from what prices had been just a year ago. As builders we have participated in helping to stabilize the economy by not constantly dropping our prices. We need to sell houses for a price that is fair if builders/developers continue to push prices down there will be no end to how little houses will sell for.

I have heard the housing market being referred to a diseases and that simply shocks me. People need to understand that we are in recovery mood and that things will go back to normal. This is not going to remain this way; houses are and will continue to get sold.

In addition, right now there are even multiple offers coming in on houses. It is time for people to think more optimistically toward the home situation. Homebuyers are realizing that prices aren’t going to continue to go down but instead they are noticing the increasing home prices.

Before prices reach normal homebuyers are taking this chance to secure some of the lower pricing points.

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