JUPITER, Fla. (PRWEB) July 06, 2012
Not only is the U.S. housing market on an upswing, it keeps getting hits and scoring runs.
For the third straight month, prices rose for sales of single-family homes, according to a closely watched composite index. The index, by S&P / Case Shiller, reported a 0.7-percent gain in home values in April, the latest month for which figures are available. That’s welcome news for industry analysts, who predicted a 0.4-percent gain.
David Blitzer, chairman of the committee at Standard & Poor’s that produces the index, described the gains as broad-based and said the numbers are a good sign of things to come in the housing industry.
Blitzer might be on to something. Last year, prices of single-family homes were down almost 2 percent, and economists actually expected the number to be higher.
Even more good news trickled in for May, when Americans bought newly built homes at pace not seen since 2010 – further proof that the slow, yet steady, real-estate recovery has taken hold.
According to the Commerce Department, new single-family-home sales spiked 7.6 percent, or 369,000 units. In April, the number of new units sold was 343,000. In March, it was 347,000. The Commerce Department said the figures show a near-20-percent increase from May of 2010.
The new-home market represents about one-fifth of the overall housing market, but its roughly 20-percent piece of the pie is an important one. New homes create jobs. New homes generate tax revenues. New homes contribute to the gross domestic product. The National Association of Home Builders estimates each new build results in three jobs, $90,000 in tax revenues and an incalculable, but relevant, impact in the GDP.
A new construction project of waterfront homes for sale in South Florida has fared extremely well, and it still is being built. Half of the 78 homes rising in an enviable location in northern Palm Beach County have been sold. The developer put them on the market in February.
Each of the lots on the prime piece of Juno Beach real estate has deep-water dockage and ocean access. The Frenchman’s Harbor development is on the east side of the Intracoastal Waterway, and the homes will have vaulted ceilings and large picture windows from which to enjoy the view.
Waterfront Properties and Club Communities, a licensed brokerage firm in Jupiter, specializes in Frenchman’s Harbor homes for sale, and its team of Realtors has a bank of facts and figures about the development and the surrounding community.
For information, call Rob Thomson at 561-746-7272.