A recent report on home sales released from CoreLogic unveils that the amount of unsold homes has decreased to record lows. The amount of unsold homes has reached its lowest point in 5 years. Researchers from CoreLogic note that the real estate market has been positively affected by negative equity. Property owners whose current mortgage is higher than the value of their homes have not been selling as previous trends show. As a result, selling prices for homes have increased based on the limited amount of properties available on the market.
Listed below are some of the crucial discoveries about the Real Estate Market in Florida:
- The amount of single family homes have increased 25% over the last 6 months and has seen an increase of 2.3 percent in April alone.
- When evaluated based on the amount of months, the amount of unsold homes has decreased to a little over six months in April. (Lowest amount in over 5 years)
- The HPI or Home Price index has seen two consistent months of year-over-year increases in April which was the first increase of this nature since 2010 when the real estate market received many benefits from tax credits.
- Negative equity has grown to become an affirmative impact in the real estate market by limiting the supply while the demands continue to grow. The amount of Real Estate Owned properties has also began to decrease over the past year and a half.
- There has been an increase in confidence regarding housing markets as of late. Real estate pricing is no longer controlled by distressed sales and a slow economy but by a market with limited supply of inventory.
The Henri Frank Group at Remax Preferred is located at 2810 E Oakland Park Boulevard, Fort Lauderdale, Florida.
Satellite offices at :
- 2166 Wilton Drive in Wilton Manors, Florida
- 2 University Drive in Plantation, Florida
- Ocean Drive at the Hillsboro Inlet to the Hillsboro Mile in Hillsboro Shores, Florida.
- Call 954-604-9999 or go to their website at http://henrifrank.com or
- find the Henri Frank Group on FACEBOOK, Twitter, Pinterest and other social media.
- For more Market Updates and information about the Fort Lauderdale real estate market, call or email today. email@example.com