Browne Sells!!! Fort Lauderdale Real Estate
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Real Estate News from Browne Pearson
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See the newsletter below from Browne Pearson. Contact Browne for first class service.
Statewide, 15,550 single-family homes changed hands in December, up 31 percent from November, while the median sales price increased less than 1 percent to $133,100. Nationwide, sales of existing homes jumped 12 percent between November and December, reaching the strongest sales pace since May. "The pattern over the past six months is clearly showing a recovery," said Lawrence Yun, chief economist with the National Association of Realtors. "The December pace is near the volume we're expecting for 2011, so the market is getting much closer to an adequate, sustainable recovery." Yun predicted recovery will likely continue as job growth gains momentum and rising rents encourage more renters to buy homes while they're still affordable and interest rates are still relatively low. One positive sign was that national housing inventory continued to fall, from a 9.5-month supply in November to an 8.1-month supply at year-end. A healthy inventory supply would be closer to six months. Patricia "Pat" Fitzgerald, president of the Florida Realtors, said it was encouraging to close the year on a high note. She credited the $8,000 home buyer tax credit with fueling home and condo sales in the first half of the year, while low mortgage rates and "favorable affordability conditions" enticed buyers at year end. Browne Pearson, Real Estate Broker EcoBroker Browne Pearson
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Browne Pearson CRS Luxury Fort Lauderdale Real Estate 1635 S. Miami Road Fort Lauderdale, Florida 33316 Cell: 954-579-2729 brownesells@brownepearson.com |
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