FL: Single Family Bottoms Out
Florida’s single-family residential housing market has bottomed. Those are the findings of a recent University of Florida study. The message to potential home buyers? If you’ve been taking a “wait and see” position. It’s now time to take the plunge. Prices probably aren’t going to fall much anymore.
The survey, completed in January, of real estate industry professionals showed the number of respondents observing a drop in single-family housing prices decreased, while a growing number find prices staying even with inflation.
Wayne Archer, Director of UF’s Bergstrom Center for Real Estate Studies, is quoted in The Business Journal as saying, “We see that as a benchmark,” Archer said. “When prices maintain the same level as inflation, then we’re probably in some kind of equilibrium. It indicates the market is stabilizing.”