In May, prices improved and inventory declined, resulting in a market that is tipping in favor of sellers.
As sellers fully understand the impact of scarcity on prices, new listings may grow as 2013 draws to a close.
Both national employment and home sales improved year-over-year in May 2013. The economy is demonstrating progress that has been ooccuring over the past few years.
Florida closed sales improved 18.7% for single family homes and 11.5% for condos and townhomes in May 2013.
The Florida Department of Economic Opportunity released positive economic news saying Florida’s non-seasonally adjusted employment was up 2.4%.
The combination of economic growth and investor activity in Florida is driving an increase in sales.
The still low interest rates are helping borrowers qualify for more loan dollars and close more transactions.
If you would like any motre information on the Housing Market in South Florida please inquire with Stateland Brown.
Daniel Statlander
www.commercial.statelandbrown.com
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