When the Federal Reserve puts out their Beige Book report (issued about every 6 weeks) on current market sales trends, it is worth taking note. Here in Florida, we are part of the Atlanta District which spans the southeast. While other areas in the region experienced "soft" sales, the Sunshine State actually rebounded! The reason according to the Beige Report? INTERNATIONAL & CASH BUYERS!Click On Chart At Right To Enlarge
According to the Miami Herald, only Nevada and California vied with Florida for being hardest hit by the housing crash, so it’s natural for Florida to enjoy a stronger turnaround than places where prices didn’t fall as far.
According to the Miami Herald, only Nevada and California vied with Florida for being hardest hit by the housing crash, so it’s natural for Florida to enjoy a stronger turnaround than places where prices didn’t fall as far.
Florida’s relative optimism on the sales front has been a recurring theme in the Beige reports this year. Here in Pinellas County, we have watched double digit Absorption Rates since the 1st quarter of 2011 gobble up our inventory and begin to push prices upward. For the latest Year End 2011 Market Statistics, view Single Family Home or Condo.
The PURTEE Team, with Realty Executives, can keep you ahead of the market trends. Just give us a try and see why we closed over $10.2M in sales in 2011 in a still depressed market!
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