South Florida: Reports Show Life In The Housing Market
Source: South Florida Business Journal | April 19, 2011
There are signs of life in the housing market both nationwide and in South Florida, according to reports from the U.S. Department of Commerce and Metrostudy. Housing starts in the first quarter were up 15 percent compared to the fourth quarter of 2010 in the six-county area stretching from Miami-Dade to Indian River, said Brad Hunter, the chief economist and national director of consulting firm Metrostudy. "Even more exciting and encouraging, absorption or move-ins went up 45 percent on the quarter." Miami-Dade County was among the strongest markets, he said. Nationwide, building permits for privately owned homes were up 11.2 percent, month-over-month in March, the Commerce Department said. As the economy improves, Hunter sees a drop in the phenomenon of doubling up, such as 30-somethings who moved back in with their parents or people sharing homes. [Read this article]
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