Florida Housing market showing signs of life

While much of the country remains mired in a housing slump, the Florida real estate market, and by extension, the highly desirable South Florida real estate market seem to be showing signs of recovery. Cabot Homes Group is perfectly positioned to continue helping our clientele exploit this growth trend.

Sales of existing single-family homes in Florida rose 23 percent in second quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors. Over 43,000 existing homes sold statewide in 2Q 2009 compared to 35000 in the same time frame last year. It marks the fourth consecutive quarter that Florida has seen higher existing year-to-year home sales.

In spite of the challenges with the economy, most people – 83 percent – still believe that buying a home is a good financial decision, according to a recent survey from the National Association of Realtors. Many homebuyers are realizing that this is the time to buy – with a good selection of housing inventory, affordable pricing and low mortgage rates.

Three-fourths of those responding to the 2009 National Housing Pulse Survey said they think now is a good time to purchase a home, a number that has increased steadily the past two years. However, providing solid financing options for homebuyers is key to returning stability to the housing market. Cabot Homes Group understands this and has strategic alliances with many partners providing a wide array of services to its clients.

Continuing low mortgage rates remain another favorable influence on the housing sector. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 5.03

By staying abreast of the latest housing trends and positioning itself in the hot South Florida real estate market, Cabot Homes Group feels confident we are the best option for those entering the housing market, whether buying or selling.