Saturday, April 21, 2012

Median Florida Home Prices Increased by 10% in March from a Year Ago, Condo Prices Gain 21%

"Florida’s housing market had increased pending sales, higher median prices and a reduced inventory of homes for sale in March, according to Florida Realtors latest housing data.

“With the continued steep decline of inventory, historically low interest rates and buyers no longer willing to wait on the sidelines, Florida’s real estate market continues on its road to recovery,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “The latest numbers show that pending sales are up almost 30 percent for single-family homes and almost 20 percent for townhomes and condos.”Pending sales refer to contracts that are signed but not yet completed or closed; closed sales typically occur 30 to 90 days after sales contracts are written.

The statewide median sales price for single-family existing homes in March was $139,000, up 10.3 percent from the year-ago figure. The statewide median for townhome-condo properties was $105,000, up 20.8 percent over March 2011."

Source

HT: Gary Lyle

8 Comments:

At 4/22/2012 9:00 AM, Blogger Ed R said...

Realtors always say the boom is just around the corner -- buy now.

 
At 4/22/2012 9:37 AM, Blogger Michael E. Marotta said...

Thanks again! Another reason why I recommend this blog to all of my libertarian and objectivist comrades who wring their hands and wail while waiting for the end of the world.

 
At 4/22/2012 9:41 AM, Blogger Michael E. Marotta said...

"Ed R said...Realtors always say the boom is just around the corner -- buy now.

Well, yes, it is perhaps tautological, considering that every bust is followed by the next boom. Buy now and save! .. well, after you actually get a job drilling for oil, of course... Myself, I work in other sectors, so I will have to wait a bit or maybe just think harder and more creatively about ways to make money. Still, and all, the good professor was spot-on when he noted that for some people every silver lining means a cloud.

 
At 4/22/2012 10:31 AM, Blogger VangelV said...

This again? How many times did we get stories like this only to see them fade as the reality turned out to be very different from what we were being sold.

The way I see it the only thing that will help is a sustainable recovery. And from what I can see there is little evidence of that showing up in any of the data that has not been blatantly manipulated by the BLS.

 
At 4/22/2012 10:37 AM, Blogger rjs said...

22.1% of florida homeowners are not paying on their mortgages...
see page 5 here:
http://www.lpsvcs.com/LPSCorporateInformation/CommunicationCenter/DataReports/MortgageMonitor/201202MortgageMonitor/MortgageMonitorFebruary2012.pdf

wonder how long that will last...

 
At 4/22/2012 12:40 PM, Blogger Benjamin said...

Ben Bernanke, print more money. Milton Friedman said in a recession after a real estate bust, print more money and then print even more.

In a similar situation n Japan, Friedman, Alan Meltzer, John Taylor, Fredric Mishkin and Ben Bernanke said print more money.

I can live with five percent inflation if you give me five percent real growth.

To paraphrase Ben Franklin, "He who trades economic prosperity for the security of price stability will soon have neither."

You get deflationary recessions when gutless, feeble policymakers seek the security of price stability.

 
At 4/22/2012 12:44 PM, Blogger VangelV said...

I can live with five percent inflation if you give me five percent real growth.

Lay off the crystal meth Benny. And learn something about economics one of these days.

 
At 4/22/2012 12:46 PM, Blogger james said...

Boy oh boy. I can just see the look on the faces of all the real estate hacks in the great state of florida during the long long decline in the price of real estate in the state. Contrary to popular belief that a large decline in the price of real estate is a bad thing. Those who profited most from the meteoric rise in the price of real estate in florida over the last twenty years are now the ones suffering the most. First time buyers with good credit can now qualify for a thirty year mortgage at a interest rate of just four percent. Or think about this the young couple with fairly good credit but not quite perfect credit making a reasonable down payment of ten percent' they have been waiting for the so called chance of a lifetime to appear and wanting to seize the opportunity to buy that dream house at a rock bottom price. Having picked out their dream house made the deposit. Than nervously waiting for two whole weeks to see if they qualify for their thirty year fixed rate mortgage at 3.99 percent. Than only to hear back from their banker. Im sorry but you just don't qualify for the thirty year fixed rate mortgage.

 

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