The national real estate news in the past year has been good, but the market across the country appears to be softening just a bit. Here in South Florida the future continues to look bright, especially for our local markets here in the Fort Lauderdale area. We are expected to outperform the rest of the country and indications so far support this confidence.
S&P/Case-Shiller Home Indices
One of the leading indicators of the broader real estate market is the S&P/Case-Shiller Home Price Indices. Their 20-city composite data showed home price gains of 13.2% in January over the same month last year. The Miami/Fort Lauderdale market outperformed the national market gaining 16.5% over last year.
REALTORS® Confidence Index
The National Association of REALTORS® Confidence Index is based on data collected in a monthly survey of 3,758 REALTORS®. While unusual weather conditions negatively affected sales in most of the country, sales in Florida remain strong and as a result confidence is higher here. The expectation is for prices to rise in Florida anywhere from 5% to 7% or greater in the next 12 months.
Local Market Watch
By The Sea Realty has just released its latest Local Market Watch Reports and there is more good news in the Fort Lauderdale area. To view our 22 latest reports and find out what is going on in your local market visit our Market Watch download page here: http://www.bythesearealty.com/market-watch/