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Florida Markets Dominate REALTOR.com Top Ten Turnaround Report
Realtor.com has just published Florida Markets Dominate REALTOR.com Top Ten Turnaround Report. I am currently working on the Pinecrest Florida year end real estate market report and I see Pinecrest Florida is have another strong real estate sales year. Year-to-date, only 18% of homes sold in Pinecrest have been short sales or foreclosures. This is way below Miami-Dade County where 58% of the homes sold year-to-date have been distressed sales.
Here is an excerpt of the REALTOR.com report:
Though the past four years have seen many cities suffering from large numbers of foreclosures and a loss in home values, ten of these real estate markets are now leading the nation towards a general recovery and stability of the housing sector.
Realtor.com’s Top 10 Turnaround Town Report, based on third quarter 2011 data, includes six Florida markets: Miami, Orlando, Fort Myers-Cape Coral, Fort Lauderdale, Sarasota-Bradenton, and Lakeland-Winter Haven.
Each of these markets has experienced positive year-over-year median price appreciation, reductions in year-over-year median age of inventory and inventory counts, while also experiencing lower unemployment rates on a year-over-year basis. Florida’s success can also be tied to foreign buyers; the number of foreign buyers purchasing homes there increased from 10 percent in 2007 to ... more
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