Florida Realtors reported a peak during the first quarter of 2013 in the Florida housing market. This translates into additional pending sales, closed sales, an increase in median prices and a decrease in supply of homes for sale, as compared to figures for the Florida housing market in the first quarter of 2012.
According to Dean Asher, President of Florida Realtors, the comparative figures are significant: “the first three months of 2013 demonstrate that Florida’s housing market is gaining momentum and continuing to bolster the state’s economy. It’s taking less time to sell a home, and, coupled with tight inventory, that shows buyers are eager to lock in historically low mortgage interest rates and take advantage of favorable, but rising, prices.”
One of the possible explanations for the bolstering of the Florida housing market is that this time frame witnessed an escalation in job creation in the region, as well as a growing population – both factors offering a more solid foundation for housing market stability and growth.