Pavilion from the Ocean

Pavilion from the Ocean

Welcome to iPavilionCondo.com

This forum, by owners for owners, provides useful information for owners to view and discuss.

This blog does not belong nor represents the views of the Pavilon Condo Association

You can subscribe to the blog by entering your email on the upper hand side on the blog. You will then receive an email with a link that you must click on to complete the subscription. Then every time the blog is updated you will receive an email message.

South Florida home price gains outpacing most of the nation


South Florida continues to see higher home-price increases than most of the rest of the country, according to a leading indicator released Tuesday.

Prices in Palm Beach, Broward and Miami-Dade counties rose 7.4 percent in August compared with August 2014, figures from the Standard & Poor's/Case-Shiller index show. It was the region's 18th consecutive increase.

The index tracks prices in 20 major metro areas nationwide. Denver and San Francisco each had 10.7 percent annual increases in August.
Portland, Ore., (9.4 percent), Dallas (8.9) and Seattle (7.6) were the other metros outpacing South Florida.

Case-Shiller is widely considered to be one of the best measuring sticks for home values because it tracks the price of the same house over time. But the index lags local Realtor board numbers and does not include condominiums. Realtor boards release a median price for homes sold in a given month.
Nationally, home price appreciation "has settled into a nice groove over the past few months," Svenja Gudell, chief economist for real estate website Zillow.com, said in a statement. "This relative stability should continue into the foreseeable future."

While a shortage of listings has given some sellers the edge in negotiations recently, agent Jon Klein, who works in northwest Broward and southern Palm Beach counties, doesn't think the market favors buyers or sellers.

Buyers of starter homes often face bidding wars, but those looking at homes priced in the $450,000 to $750,000 range aren't rushing into deals, said Klein, of Real Living 1st Choice Realty.
"I am seeing houses stay on the market longer," he said.


Klein expects price increases to slow into next year. Home prices traditionally appreciate annually at 4 to 6 percent.

1 comment:

Georgia said...

That is true, but you still have affordable real estate. Like e.g. on http://sabbiabeachcondos.com/ you can find a nice beach condo for really good prices.