Good News For The Florida Market!
It’s economy continues to improve and it shows as the average credit card debt in Florida has fallen from $6,779 at the end of the 2008 to $5,242 as of September 2014.
How did the economy change the housing industry in Florida?
Well, foreclosures and short sales cost Florida more than a million mortgages than 7 years ago.
A lot of these mortgages were then purchased via cash sales.
Overall, Florida’s foreclosure crisis has eased but not disappeared.
TransUnion projects the 60 day late mortgage rate will drop to 5.4% in the 4th quarter, down from 8.1% a year ago.
However, Florida still has many foreclosed properties in the court system.
It looks like it’s a good time to move to Florida if you want to buy a home.