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Home arrow Real Estate News arrow General News arrow Florida Real Estate Ranks After Zealous Trend

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Florida Real Estate Ranks After Zealous Trend
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Thursday, 24 August 2006

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ORLANDO, Fla. -- The inventory of homes unsold has hit high records. This gives buyers the best time to find a bargain on a new house. This is the tell-tale signs of what economists foresee on housing market that is slumping. “What we're seeing right now is a little bit of an evener playing field from buyers and sellers," said Penny Hermann of the Florida Association of Realtors.

He also said that the national trend of slow real estate sales is echoed in Florida. "I think if you look over the past many years you'll see a market that has its ups and downs just like any sellers make and a buyers market," he added. The association said that sales of existing homes nationwide dropped in July to their lowest levels since 2004.

But there is hope for Central Florida. With its growing population economists predict there will always be high demand for these homes. “I think people will realize lots of people are moving here from other parts of the country,” Hermann said. “So as long as we have that growth, that will also keep inventories down and as along as we have that growth real estate will continue to appreciate in value." We know that existing home sales are at a national low, but today the Commerce Department is expected to release new numbers on new home sales.

Josiah Diega

Real Estate News 

 

 

Last Updated ( Thursday, 24 August 2006 )
 
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