JUPITER, Fla. (PRWEB) September 08, 2012
The chief economist at CoreLogic, a real-estate analysis firm, has gone on the record saying home prices in the United States hit rock bottom earlier this year.
Mark Fleming, head of the real-estate-analysis firm, said the supply-and-demand ratio currently in play means prices should stay stable as the housing industry heads into Fall and winter.
Prices jumped 3.8 percent in July 2012, compared with July 2011.That’s the most significant increase since the financial crisis’ beginnings in 2006, according to Fleming.
In addition to that good news is data that show prices are up 9.6 from February 2012, the month that saw the lowest home values since the downturn.
Realtors at Waterfront Properties and Club Communities are taking a cue from the rosy reports and gearing up for a season of listing BallenIsles homes for sale. BallenIsles is a gated community in Palm Beach Gardens, with which Waterfront Properties has formed an exclusive partnership.
Traditionally, home prices surge in the spring and summer months as weather warms, school ends, and family planning ensues. That trend has been especially prevalent in the last three years.
Then, after Labor Day and into October, prices begin to drop, and many of the market gains are lost. That won’t be the case this year, unless something economically unforeseen takes place, Fleming said.
The million-dollar question is whether home prices will fall 9.6 percent between August 2012 and February 2013. That’s unlikely in South Florida, a market flourishing with luxury property, oceanfront condominiums and golf-course residences, as well as homes for sale on the Intracoastal Waterway and the Loxahatchee River.
As Anand Nallathambi, CoreLogic’s president and CEO, said, the U.S housing marketing is more than midway through the dark tunnel and is beginning to see the light on the other side.
At Waterfront Properties, the light is shining brighter every day. For information, call Managing Partner Rob Thomson at 561-746-7272.