Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Sales of existing homes and condos increased in South Florida in December and prices rose, as the housing recovery continued.
Sales of existing single-family homes in Miami-Dade County jumped 16.4 percent in December 2012 from a year earlier, making 2012 a record year for sales, the Miami Association of Realtors said.
In Miami-Dade, the median price for a single-family home jumped 18.9 percent to $214,060 while that of an existing condominium soared 25.4 percent to $163,000 in December 2012 from a year earlier, marking 13 consecutive months of year-over-year gains. Miami-Dade condo sales climbed 9.8 percent to 1,395 units in December.
Broward County’s housing market is showing similarly strong demand and rising prices.
In Broward, the median price of an existing single-family home surged 21.1 percent to $230,000 in December from a year earlier, according to the Greater Fort Lauderdale Realtors. The median price of an existing condo or townhouse in Broward jumped 24.7 percent to $95,100 year over year, the group said.
Sales of single-family homes in Broward climbed 14.9 percent in December from a year earlier while the volume of condo and townhouse closings increased 4.7 percent over the period.
Sellers have gained the upper hand amid a tight inventory of properties for sale and often can choose between competing offers, according to Realtors.
It was already explained why the housing market shows that the median price rose.. the houses owned by the upper middle class and wealthy are now going into foreclosure as they were able to hang on longer to their home.. the higher priced homes are not flooding the market. They do bring in more money as they are worth more compared to the average home.. Some are worth millions and many are worth close to one million. That explains the median price rise.
Are you now talkng to yourself.. I was going to post the same thing to you.
LOL. I am the one looking at cold hard facts, while you are the one walking around the block to conclude how the entire state, or better yet the country is doing. heh-heh
It was already explained why the housing market shows that the median price rose.. the houses owned by the upper middle class and wealthy are now going into foreclosure as they were able to hang on longer to their home.. the higher priced homes are not flooding the market. They do bring in more money as they are worth more compared to the average home.. Some are worth millions and many are worth close to one million. That explains the median price rise.
Actually no. The Orlando stats I sent you were about 1, 2, 3 and 4 bedroom houses, and the 2 & 3 bedroom ones were doing the best. You are making it up as you go.
LOL. I am the one looking at cold hard facts, while you are the one walking around the block to conclude how the entire state, or better yet the country is doing. heh-heh
nothing like in your face reality.. plus facts. Ever heard of shadow inventory?
He said that house prices had crept up over the last year, and that there had been significant improvement in new housing construction.
Mr. Bernanke said the numbers of foreclosures, while still too high, are declining as were the number of homeowners who are underwater, a term meaning they owe more on their mortgages than their homes are now worth.
He said the continuing improvement in the housing market would have a positive impact on the employment picture, both by directly creating more jobs in home construction and factories that make home goods, and also indirectly by improving peoples' sense of wealth
Hahaha. Crept up to far below what they were in 2008. Foreclosures and underwater homeowners are declining because those folks are done, and are now renters.
conservatives don't care about reality. conservatives don't arrive at their conclusions about public policy based on reality.
They work backwards, first they start out with the conclusion and judge the policy on the basis of it ends up with their conclusion.
So conservatives have already concluded that President Obama is bad for the economy.
This is the starting point for everything, any reality based information that corrects that view will be dismissed or explained away in their minds, because again, conservatives work backwards, they reach the conclusion, then interpret data or reality on the basis of if it confirms their conclusion.
This is how they can complain about the economy barely growing last quarter as proof that President Obama is bad for the economy, but completely ignore the reason the economy barely grew is because the government cut spending which goes against their other rock conclusion about government spending and the economy.
Conservatives tend to do that, when the facts speak for themselves.
Liberals on the other hand, prefer to bury their heads in the sand.
As for govt cutting spending, where did you come up with that lie?
Actually no. The Orlando stats I sent you were about 1, 2, 3 and 4 bedroom houses, and the 2 & 3 bedroom ones were doing the best. You are making it up as you go.
No I am not. don't judge me by you... I have excess to many facts in the state of Florida regarding real estate...I have been following it for many years now.
Also the banks are so loaded with foreclosures that no one wants in certain areas, that the banks are moving to short sales to keep them off the books as foreclosures.
Our government is buying up many toxic assets , 60 billion a month to keep the banks from collapsing.
Hahaha. Crept up to far below what they were in 2008. Foreclosures and underwater homeowners are declining because those folks are done, and are now renters.
According to LPS and their latest Mortgage Monitor Report 5,300,000 are in some stage of distress:
-1,957,000 late 30 days or more, but less than 90 days
-1,543,000 90 or more days late, but not in foreclosure
-1,800,000 in foreclosure process
Depending on the definition of shadow inventory, the number can be lower. Typically the number is based on the number of properties not on the MLS but are in some stage of distress. According to JP Morgan this number is up to 4,300,000 at the end of this year. Their projections for 2013 shadow inventory is telling:
No I am not. don't judge me by you... I have excess to many facts in the state of Florida regarding real estate...I have been following it for many years now.
For years now....that must add up to dozens of walks around that block of yours. You are still ignoring the cold hard facts, and replacing them with your personal opinon. That's cool, whatever makes you happy
The fed will soon own 2 trillion in mortgage backed securites. They have bought them all up and allowed the banks to take them off the books. Now after fannie and freddie have bailed em all out FHA is "stepping up" and handing out mortgages at 3% with nothing down the same ones that melted down in '08. Why is the fed handing the banks 80 billion a month in "free" money? Because the banks are handing out mortgages they are receiving little if any return on. The fed is subsidizing the market and backing it all up yet again this time with FHA. In 2010 97% of all mortgages were backed by the fed. The banks can't lose yet again. The taxpayers can though. Lenders are limiting the homes for sale by keeping distressed and foreclosed homes off the market. Home sales have "bubbled" back up to '10 levels. Yippee. All backed by subsidies from the federal reserve. Nothing good will come of this just like it did last time. Hey it pays to create bubbles especially when they pop and you aren't the one left holding the bag. The taxpayers will again.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
