Florida Real Estate Outlook

By Author: david chamberlain
Total Articles: 1
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There are a lot of factors that affect sales of real estate in Florida, Tourism, employment and environmental concerns each play their roles. This year sales are increasing while values are decreasing. This is good news for the buyer but not the relief that the sellers need just yet.

Through June for 2010 single family home sales were at 18,038 which is up from 15,732 for the same period in 2009. This shows us that home prices are more in line with incomes, for to long home sales were well above what the average Floridian could afford. The median sale price for june 2010 was $143,400. The most recent data from the cesus for florida lists Personal income per capita at $39,070 which means the median person can afford the median home, at least according to FHA's mortgage calculator.

Unfortunatly in Florida we need tourism to survive and there has recently been an oil spill nearby, most beaches have not been affected and we have had great weather this year but the average consumer won't know that. They just view the news and belive that what they say is true. BP has been paying out to businesses but again, this does ...
... not help the average person, who can not work, it only helps the business owner recover from loses.

The outlook for Florida Real estate looks good even though we have had some tough times. I believe I will be able to purchase a home next year and I hope that many more people can buy homes this and next year. Home ownership improves a community, homes are taken care of batter when not owned by a landlord and children live more stable lives when their parents own the home.

Florida has had a tough time with real estate but we can see the light. A lot of people come on vacation after tough winters and end up buying a house a moving down. With the economy being tough recently that has not happened so we have had a high vacancy rate partially due to the number of new homes the developers had been cranking out. In which a lot have been just sitting vacant, I have even seen a number of high rise projects completed that people walked away from as prices plummeted. They walked away and a lot of times abandoned deposits of ten thousand dollars. Which as it seems , if they didn't get sued by the developer, was the smart decision.

With prices with the actual income of the people living in florida the market is almost normal. People from up north buying fuels our economy but it also hurts it They have higher incomes so they can purchase more of a home. Without the northerers bidding, the average Floridian can now afford a home and prices are still dropping so next year might even be a better oppertunity than this year. At the current prices I can not see more than one year of drops because soon many people who had their homes forclosed on early on will be able to get financing again.