South Florida Homes Went Up In Value By Almost 8 Percent In The Third Quarter Of 2012

24 October 2012

More good news for people who are engaged in the South Florida real estate market as the value for South Florida homes went up by almost 8 percent in the third quarter of 2012 from last year’s values. Furthermore, values are expected to beat the national price hikes through to 2013.

Broward, Miami-Dade, and Palm Beach County areas are expected to experience an increase of 3.8 percent in value over the next twelve months compared to the increase expected on a national level of 1.7 percent.

The biggest quarterly gain for nationwide home values was 1.3 percent which was achieved in the third quarter from the second quarter of 2012. It was the biggest gain ever since the month of March in 2006.

However, real estate experts are concerned that the rate at which real estate gains are being achieved are not balanced across regions as 52 percent of markets across the United States was decreasing values in the third quarter of the 2012.

Although the lack of balance does not necessarily indicate that the path to recovery has taken a detour, there is an element of confusion as far as property buyers as well as investors as concerned.

According to Zillow, the South Florida real estate market had bottomed out in the latter part of 2011. Those values are inclusive of all homes within the South Florida region and not only the ones which were successfully sold during the timeframe in which the statistics were collected.

Even though the national recovery has showcased a certain degree of polarization among markets, the subject of housing is still an important issue, especially among voters who will be casting their votes in the upcoming election.

South Florida homes remain to be among the most highly sought after real estate options found within the United States today. If you would like to find out more information regarding the South Florida real estate market, you are encouraged to contact a professional real estate agent for more details.