Phenomenal news from the latest figures regarding the real estate market in South Florida. Pending contracts on home sales has taken a strong upward trend in 2012 and properties actively for sale has dropped in equal measure.
This proves what full time real estate professionals like myself have already known for several months, the buyers are back! In February we had as many transaction sides as there were days in the month and since it's a leap year that means at least 29! At one point we had literally sold 14 of our listings in 14 days.
If this trend continues the market will even out to some degree, however it is still a buyer's market. No one knows for sure how long that will be the case, but as the general concensus comes around to believe it then a lot of reluctant buyers will re-enter the market. Granted, that's not going to open over night or even in 2012 necessarily. Either way, it's a sign that things are heading in the right direction.
If you are the type who would rather make news than follow the news, then contact me about buying or selling.