According to last figures released by FAR (Florida Association of Realtors), the situation of the house market in Florida shows improvement.
Housing Market Indicators:
Florida existing home sales:
Florida existing condo sales:
Florida existing home median price:
Florida existing condo median price:
Florida consumer confidence:
National existing home sales:
(month-to-previous-month comparison; all housing types)
National existing home median price
National (Freddie Mac) mortgage rate
(all housing types)
Another factor that can contribute to alleviate the situation is low mortgage rates. Mortgage rates fell this week to the lowest level on records dating to 1971,giving consumers more incentive to purchase. The average rate for 30 year-fixed loans sank to 4.69%, from 4.75% last week, mortgage company Freddie Mac said Thursday.
Not only low rates will do the job to make a strong and stable housing market, job stability is paramount for prospective homebuyers to take advantage of low rates and opportunities in this housing market. There still a long way to go but global figures for Florida are looking better.