Florida’s housing market off to a good start

by Anna Sobrevinas27 Feb 2017
Florida’s housing market opened this year with a bang, as new data from Florida Realtors reported more closed sales, higher median prices, increased pending sales and more new listings last month.

Florida Realtors President Maria Wells said the state’s housing market has been continuously showing positive momentum.

"While existing inventory remains tight, realtors across the state are reporting interest from both buyers and sellers – and with interest rates expected to rise over the next few months, now is certainly a good time to take action,” Wells said. 

New pending sales for existing single-family homes went up by 3.8% annually in January, and pending sales for townhouse-condo units went up by 6.5%. New listings for single-family homes increased by 7.6% and new townhouse-condo listings rose by 0.9%.

"Florida's markets for existing homes are off to a good start in 2017," said Brad O'Connor, Florida Realtors’ chief economist. "Throughout much of this housing cycle, growth in single-family home sales has outpaced that of condos and townhouses, but in January – for the first time since November 2015 – this was not the case, though one month's worth of data alone doesn't indicate a long-term trend.”


Related stories:
Growing gap between housing availability and affordability – study
Will rising interest rates stifle homebuying?

COMMENTS

  • by Andrea Gagliano | 2/27/2017 8:39:51 PM

    I work for Coconut Properties in Cocoa Beach and we have been very busy. Many are buying waterfront properties and they seem to prefer to keep their cost under $400,000. We have noticed that we are getting many Canadians wanting to buy on the Spacecoast. We definitely have a shortage of rentals and properties to sell. We use to get $1800 to $3000 a month in rent for our oceanfront condo but now we can get that year around.
    Florida Waterfront Living - Andrea Gagliano Realtor

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