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Is The Housing Market Recovering?

Is The Housing Market Recovering?Housing Market

Realtor.com Real Estate Trend Data – April 2012

National Trends– As the 2012 spring home buying season comes into full swing key indicators continue to suggest the housing market may be at a turning point and headed towards a broad-based recovery. The total US for-sale inventory of single family homes, condos, townhomes and co-ops (SFH/CTHCOPS) now stands at 1.84 million units, down -18.85% in April 2012 compared to a year ago, and well below its peak of 3.10 million units observed in September 2007 when Realtor.com began tracking these data. The median age of the inventory fell by -11.57% on a year-over-year basis, from 95 days in April 2011 to 84 days in April 2012, while the median list price–$191,211—has remained essentially stable for more than a year.

Many Florida markets have cleared out much of their excess inventories and appear to be in recovery mode, while other hard-hit areas – Phoenix and California — show early signs of recovery. However, some Midwest and Northeast markets are losing ground as weak local economies take their toll. Lower inventories, combined with faster moving markets and relatively stable median listing prices are indicative of the kind of balanced housing market that has not been seen in many years.

Read more: Realtor.com Real Estate Trend Data – April 2012 | REALTOR.com® Blogs

Contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 1 Comment »

Miami, FL Is Number One

Miami, FL Is Number OneMiami, Florida

Miami, FL is the number one town on REALTOR.com’s Q4 Top 10 Turnaround Towns Report.  According to the Miami Association of Realtors, sales of existing single family homes in the Miami Metropolitan Area increased 51% in the 3rd quarter compared to a year ago.  Miami has half as many properties in Realtor.com’s inventory of listings as it had a year ago.  Also, Miami continues to be a hot market for international buyers.  In May, international buyers purchased about 60% of the existing houses and condos and 90% of the newly built homes in Miami.  According to the experts, Miami, one of the hardest hit foreclosure markets, is on its way back.

Fort Lauderdale, FL made the list as well coming in at number eight.  The list also includes several other Florida cities.

I can help you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Top 10 Most Searched Markets On Realtor.com

Top 10 Most Searched Markets On Realtor.com

Realtor.com

Realtor.com, operated by Move, Inc., is an official website of the National Association of Realtors.  The Top 10 List is based on the number of visitors at Realtor.com that viewed properties in each metro area in the United States from January 2010 through December 2010.

The top 10 most searched for cities at Realtor.com for 2010 are:

  1. Las Vegas
  2. Los Angeles
  3. Orlando
  4. San Antonio
  5. MIAMI

  6. Phoenix
  7. San Diego
  8. Austin, Texas
  9. Tampa
  10. Chicago

“Online search is a critical measure of interest in real estate, especially now that more than 90% of buyers search for their homes online,” says Realtor.com President Errol Samuelson.  “Changing conditions throughout 2010 in the sunshine states resulting from foreclosures, the tax credit, interest rates and other factors created more interest in real estate compared to other states that we hope leads to increased activity and sales in 2011.”

For more information on real estate in the Miami area please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

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