Sales rates improve while realtors warn buyers to avoid dreams of turnover returns
San Francisco, CA -- (SBWIRE) -- 02/01/2013 -- According to a new Florida Realtors report, residential real estate sales have risen over the 2012 fiscal year when compared to 2011.
The numbers show that in 2012 the sales totals were 16% higher than the year prior, and then pending sales were 40% higher overall. Experts have stated that the significant part of the increase is driven by the number of retirees and vacation home-buyers who have no necessity for relocation or owning of another home, but are simply drawn to having the promise of year-round sun.
With the prices of homes being considerably reasonable, with $154,000 average, the area is considered still a rather attractive buy for many; however, persons in real estate business are warning buyers to remember that the market proves that these estates should be considered a home, and not an investment.
For many, being able to escape the cold of winter is nothing short of a dream, and that is why the purchases of homes in warmer climates is so attractive. Data has shown that Florida's housing market will be a sweet-spot in the coming years. Prices have remained low, while Florida is among the states that was hit hardest by the collapse, which keeps prices considerably affordable.
With things now improving in the estate market, the number of houses for sale that have closed in December saw a sharp rise of 16% when compared to last year. Pending sales shot up by two-fifths, and the median sales price was still affordable at under $160,000, up nearly 14% from 2011. When compared to the median price of $180,600, and the ability to promote the enjoyable climate during the cold season for most of the U.S., Florida appears to be in prime position.
Still, realtors are interested in making sure that the right people find their way to the affordable housing, and are continually warning prospective buyers that these homes should be considered just that, homes, and not long-term investments. The reason being that the 2008 burst showed that one cannot count on the market outright, even if it is showing signs of a rebound.
About Oasis Condos
Oasis Condos (http://www.oasiscondos.com/) provides visitors with information on the most luxurious and mesmerizing hotels in the Florida area. Enjoy the majesty of the Florida coast, and take in all that Oasis has to offer.
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)