Major Economic Indicators Back Bump in Waterfront Properties’ Home Prices

Share Article

The convincing consensus among U.S. economists and real-estate analysts is this: The average price of a single-family home scraped the barrel in 2011, and in 2012, has trended up.

News Image
Agents at Waterfront Properties believe the rebound in prices is healthy and will lead to robust economic growth in the form new jobs, consumer confidence and housing starts.

Waterfront Properties and Club Communities’ sales specialists have seen home prices in South Florida mirror promising national statistics that show the industry entering its most positive period of recovery since 2007.

Here’s the proof: Eight of the top home-price indices all point to increases in both list / asking prices and sales prices. The indices include Core Logic, FHFA, Zillow, Case-Shiller, Radar Logic and Trulia, as well as existing-home and new-home median prices. The year-over-year increases between October 2011 and October 2012, the latest month for which figures are available, range from a low of 2.5 percent to a high of 14.3 percent.

Prices of homes for sale in Jupiter, Waterfront Properties’ core territory, have risen remarkably and have breathed new life and optimism into the hearts and minds of homeowners. However, there is a school of thought among some experts that the fleeting figures could formulate another housing boom, which ultimately led to the bust in 2007.

Agents at Waterfront Properties believe the rebound in prices is healthy and will lead to robust economic growth in the form new jobs, consumer confidence and housing starts. Analysts at Barclays Capital recently reported housing starts are forecast to grow 20 percent in both 2013 and 2014.

Stephen Kim, one of the analysts, said a run on home purchases in the face of increasing prices has sparked new construction and made it a strong factor in the national recovery process.

Rick Palacios, of John Burns Real Estate Consulting, said the number of industries forecast to grow by 20 percent is few and far between, and that the housing industry is one of them is fortunate. Palacios said stock prices in such companies as drywall manufacturers, bathroom-fixture designers and publicly trader homebuilders have more than doubled in a year.

The South Florida market, specifically northern Palm Beach County and its landmark communities of Admiral’s Cove and PGA National, is flourishing in the face of the recovery, and the team at Waterfront Properties is leading the charge. For information, call 561-746-7272.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Rob Thomson
Follow us on
Visit website