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Sustained economic development is anticipated to give first-time homebuyers the reassurance necessary to enter the residential real estate market. Moreover, about three out of five independent mortgage lenders (59 percent) in a recent survey predict an increase in the number of first-time homebuyers in 2017. The forecast comes from The Lenders One Cooperative, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products, via its second annual Lenders One Mortgage Barometer, […]

Single-family home sales across the state of Florida totaled 18,033 for the month of February 2017, a small decrease of 0.5 percent in comparison to February 2016. While housing prices continue to rise and inventory shortages continued, Florida’s economy and housing market remain strong. “Florida’s economy is growing, with more jobs being created,” said 2017 Florida REALTORS® President Maria Wells. “And a growing economy boosts the state’s housing sector as well. However, many local markets […]

Townhomes are currently the most rapidly growing division of the single-family housing market, according to the National Association of Home Builders (NAHB). New construction of townhomes increased 17.8 percent from 2014 to 2015. That compares to a 10 percent construction increase for detached single-family homes and a 12.1 percent increase in co-op, condominium and apartment construction over the same period of time. In 2016, townhomes made up approximately 12.4 percent of all new construction in […]

Consumer sentiment among Florida residents increased in March to the highest level in 15 years, according to the most recent University of Florida (UF) consumer survey. University of Florida’s most recent consumer survey results indicate a consumer sentiment reading of 99, the highest rate since March 2002 and the second-highest rate since November 2000. The lowest index possible is a 2, while the highest possible is 150. All components that the index is based on […]

The sale of single-family homes across the state of Florida totaled 18,033 for February 2017, down just 0.5 percent when compared to February 2016. Despite rising housing prices and continued inventory shortages, Florida’s economy and real estate market remain relatively strong and developing. “Florida’s economy is growing, with more jobs being created,” said 2017 Florida REALTORS® President Maria Wells. “And a growing economy boosts the state’s housing sector as well. However, many local markets are […]