Florida Real Estate Market – Houses Starting To Sell Again
People are wondering if there is improvement in the Florida real estate market. There are various views about whether it is changing or not. The recent information on this needs to be examined to know the whole truth when it comes to the Florida real estate situation. We will review some of the recent statistics as we discuss this topic.
The local reports coming from a Florida realty organization say that there have been some slight improvements in the Florida real estate market lately. It is good to know that there has been an increase in activity somewhere. The national figures are still not good. There must be some reason for this in Florida I hope they don’t just think it is the weather down there because it seems there has to be more to it than that.
Twenty percent improvement in the sales of single-home in April over March of this year is a pretty good increase. That means that the number of houses the sales increased was approximately 2,000 homes. When we look at the real figures it comes out like this that there were 9.330 homes that were purchased in the month of March 2008. Now in April of this same year 11,200 homes were purchased. This is amazing when you realize that the national average on sales is still badly in need of some help.
There are several ways of looking at this increase. The weather is year around pleasant for people to be outside in. This could be one reason for increased sales. People may be getting more educated to the fact that in this type market you have to give a bit and lower prices to sell sometimes. There is still a ways to go though for the sales to be what they were in April 2007. So the realtors work on to correct the problem.
It is know that some realtor’s have started operating in other countries too. This opens the market to even more people that want to live and work in Florida. This is a smart move for these realtor’s because their businesses are growing and getting busier. New people moving from other countries have always been a reason for houses selling even when the real estate sales may be slower than they should be.
The area of Fort Myers and Cape Coral is the exception to the rule. This area has increased its sales 41% from last year April 2007 to this year April 2008. That is a huge increase. Why this huge increase in sales? It is reported that the price of homes has dropped 29% in this area. In the rest of the state the prices have only gone down 17%.
Some of the selling tactics around the state has gotten quite inventive. One example is using a limousine to pick up a potential home buyer and take them to see foreclosure properties. They are actually called the foreclosure tours. Buyers get to go examine said properties and then get back in the provided limousine and ushered to another property that has been foreclosed. What an ingenious way to try to recover from the problems of foreclosures.
On has to remember that when prices in real estate go down due to many factors more people eventually start buying. With interest rates low there are still plenty of people willing to buy houses. Florida’s sunshine may be a contributing factor also to the increase in Florida real estate sales. Time will tell the real story.