Florida Home Resales
Rise in 2013
Home Prices & Interest Rates Still Afforable
August 2013--The Florida Association of Realtors reports that in second quarter 2013, single family home sales increased almost 15% over last year, with median selling prices increasing more than 14% over 2012.
Both new home builders and home resellers have seen the market recover substantially as the economy rapidly improves in the state and out-of-state sellers are increasingly able to sell their current homes in order to purchase Florida properties. As a result, FAR also reports that the supply of homes available shrunk 31.4% in the second quarter 2013 from the same period last year.
Despite these recent upturns, both home prices and mortgage interest rates remain very affordable by historical standards, making this still a very good time for new home buyers to begin their Florida home search.
Many popular real estate forecasters expect a continued increase in Central Florida real estate prices for the remainder of 2012 and 2013. For example, as reported by CNN Money, the CoreLogic Case-Shiller Index predicts that prices in the Ocala market to rise by 10.6% during 2013, and additional 12.2% in 2014.
If you’d like additional information on Central Florida homes in a specific area, please call our Discover Florida Realty at 800-828-2699. We’re here to help you realize your dream of Florida home ownership.