The Recovering Real Estate Market in South FloridaPosted by Debra Manuel on Tuesday, October 30th, 2012 at 4:28pm.
Five months and counting! More good news for the recovering real estate market, as reported by CNN Money website the market has posted five consecutive month of gains.
The report confirms many beliefs that the overall economy is improving. The slow but steady improvement in the national economy coupled with federal government action to maintain low mortgage rates and decreased inventory attribute to the overall real estatemarket improvement. The article in CNN Money quotes said David Blitzer, spokesman for S&P. as pointing out that “[t]he sustained good news in home prices over the past five months makes us optimistic for continued recovery in the housing market" The article further points out that the “report is one of many gauges of housing market health that has turned upbeat in recent months”
This news on top of the prior reports by CNN Money that home building surged in September to a four-year high give credence to the reports that we are experiencing a sustained recovery.
While, we can not expect a sharp spike in housing prices, it appears that the market hit bottom and is on the way up. This being said, this may be the time to buy. If you would like more information on new construction or existing home available in the Jupiter/Palm Beach area, please contact Debra Manuel.
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