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Florida Real Estate / Housing Market
Don't believe everything you read. Despite all the negative media coverage, especially in the newspapers The Tampa Area Real Estate Market is fundamentally sound and an excellent long term investment. Sales increased by double digit percentage in October of 2007 from October of 2006 and Florida remains a terrific value among nationwide real estate markets. The biggest buyers market in 17 years has produced an unprecedented buying opportunity for those that have been waiting for the right time. Mortgage rates are still near a historic low, inventories are high, sellers are motivated, and great deals are to be had.
Florida stil boasts almost 1000 people day moving to the Sunshine State, a number which is expected to grow when the baby boomers begin to retire in full force.
Latest Housing Market Indicators:
Florida existing home sales:
- -23%
Florida existing condo sales:
Florida existing home median price:
- $235,500
Florida existing condo median price:
- $212,200
Florida consumer confidence:
- 86
National existing home sales:
National existing home median price
- $212,800
National (Freddie Mac) mortgage rate
- 6.16%
Source: Florida Association of Realtors - March 30, 2007
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