The South Florida Real Estate Market Is Up To A Good Start In 2012 According To Builders

20 January 2012

Things are looking good according to the numerous builders who retain their optimism towards the South Florida real estate market despite the fact that the number of new homes started across the United States in December had gone down 4.1 percent from the previous month.

The reason for their optimism lies in the fact that housing starts on single-family home properties have gone up 4.4 percent from the previous month. It has been made apparent to many of these builders that the overall negative data figures were merely a result of the 27.8 percent month-over-month drop with regards to construction on infrastructures which involved five units or more.

It is clear to see that the current demand of new single-family home properties is set and final within the South Florida real estate market which is also quite the case for many other property markets across the state and even across the country which is always good news for both the real estate market, and the economy as a whole.

It seems that there has been an actual increase of 24.9 percent on both single-family starts and multi-family starts with the increase being attributed as 11.6 percent for single-family starts and 69.1 percent for multi-family.

Even apartment properties are looking to be up to a good start after having been able to post gains of above 50 percent in 2011 which is why people are expecting that the South Florida real estate market for apartments is also going to up to a strong start. Of course, many feel that this is due to the fact that apartments have become the next best option for people who have been unfortunate enough to lose their home properties to foreclosure which continues to be another issue that the South Florida real estate market is actively dealing with.

Other statistics that have been considered during the start of the year include those of reported permits for the purpose of new building constructions which seem to have dropped slightly. Nevertheless, the South Florida real estate market is still not shaken because the figures are still 7.8 percent higher than those collected in 2010. Also, the housing completions have gone up by almost 10 percent which means that the local market remains consistent in its path to full recovery.

Nevertheless, there is still a lot of room for growth in 2012 which is definitely one of the things that people can look forward to in the upcoming months.

Joan Vonnegut
Florida Real Estate