Good news for the South Florida real estate market, according to leading U.S. economists, the area is entering 2012 on a growing trend. This information was shared during the Florida Realtors® 2012 Real Estate and Economic Forecast Conference that recently took place in Orlando.
In a Florida Realtors press release, Dr. Lawrence Yun, chief economist for the National Association of Realtors®, said many Florida markets are showing sharp drops in inventories of homes for sale – a sign that demand is picking up and prices are stabilizing. “That’s a major change from just a year ago,” Yun said. “Buyers have stepped back into the Florida market.”
This news comes as no surprise to Chad Gray, a Realtor at Luxury Living Fort Lauderdale. “Our sales have continued to increase month over month,” said Gray. “The amount of homes for sale in Fort Lauderdale have come down 38% from a year ago. As a result, we have seen an increase in multiple offers on homes.”
