Waterfront Properties and Club Communities has seen inventory in South Florida mirror the national trend and bring back a robust market.
JUPITER, Fla. (PRWEB) July 19, 2012
A recent headline in The Wall Street Journal, ‘Housing Passes a Milestone,’ has helped buoy economists, Realtors and homeowners seven years after the housing-market crisis and four years after the recession.
They agree there is a light at the end of the tunnel, and they’re optimistic the tables have turned.
One of those proverbial tables is inventory. According to industry analysts, the inventory of existing, unsold homes has fallen to a near-perfect level of six months’ worth. An economist from CoreLogic in Santa Ana, Calif., said the inventory level is the reason home prices rose in the Spring and will be the reason they avoid a summer slump.
Waterfront Properties and Club Communities has seen inventory in South Florida mirror the national trend and bring back a robust market. The Jupiter-based real-estate and brokerage firm reviewed a report showing inventories in four northern Palm Beach County cities down between five and eight percent. According to the report, inventories in Palm Beach Gardens and Juno Beach are down five percent; Tequesta homes for sale are down six percent, and Jupiter homes for sale are down eight percent.
Another proverbial table that has turned is home starts. The Commerce Department said builders are breaking ground on more homes now than they have in the last three years. As of June 2012, the latest month for which figures are available, more than 760,000 homes starts were recorded – a 24-percent increase from June 2011.
The Commerce Department further reported housing starts increased 4.7 percent for single-family homes and 12.8 percent for multifamily homes.
There’s more good news. The Mortgage Bankers Association said loan applications recently spiked in response to a record-low, 3.62-percent interest rate on a 30-year mortgage.
Waterfront Properties’ team of sales agents has worked hard to maintain the uptick in local real-estate market and uphold the integrity of the industry and the pride of homeownership.
For information, call Rob Thomson at 567-746-7272.