It’s Always Sunny In South Florida
The Fort Lauderdale Real Estate market continues to shine.
The Standard & Poor’s/Case-Shiller home price index shows that all three South Florida counties (Palm Beach County, Broward County and Miami-Dade County) had property values that rose 15.8 percent over the past 12 month period.
This year over year improvement shows a robust market for residential real estate. Whether it is a waterfront vacation home, retirement condo or primary residence, South Florida is a sure thing. In the month of October it was only South Florida and Charlotte that saw larger price increases in October over September.
What we will see going into 2014 is a more controlled market still offering reasonable prices and less of the frenzy because many of the investors are now concentrating on the short sales and bank owned property. This is all due to the price increases that we saw during the rebound over the past 18 months.
The next big boost that the Fort Lauderdale real estate market will benefit from gains in employment which is lifting consumer confidence and will provide economic expansion. Ben Bernanke said that the country is poised for faster growth because the headwinds that have held back the economy have changed. The housing market will continue to be supported by the bright financial forecast.