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Wednesday, October 16, 2013
Upper Florida Keys Real Estate results Sept. 2013 compared to Sept 2012 and more.
Thursday, May 30, 2013
Investors expecting a widespread housing recovery
Investors betting on a widespread housing recovery
The recovery is in “the very early innings,” Russell Croft, a portfolio manager at Croft Leominster Inc., told The Wall Street Journal. “[I’m trying] to find the secondary or tertiary stocks that might be influenced by housing.”
Following a run-up in shares of homebuilder stocks – like Lennar, KB Home and Toll Brothers – investors are now diversifying, looking at such companies like appliance maker Whirlpool (which has surged more than 170 percent since the end of 2011) and Ford Motor Co. for pickup trucks. Investors are looking for anything housing-related, including companies that manufacture related items from roofing and floorboards to drywall and faucets.
Home improvement retailers Lowe’s and Home Depot have each soared by about 60 percent over the last 12 months.
With home prices still below about 28 percent from their 2006 peak, investors are seeing plenty of opportunity ahead for the housing market.
“The housing market is one of the best investible themes out there for 2013 and for 2014 as well,” says analyst Kevin O’Keefe with Brown Advisory, which oversees $33 billion in assets
Saturday, May 11, 2013
Fla.'s housing market shows momentum in 1Q 2013
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Wednesday, April 17, 2013
Big Predictions for Housing for Next 2 Years-Florida Keys statistics December 2012 through February 2013
Big Predictions for Housing for Next 2 Years
Daily Real Estate News | Friday, March 29, 2013
Home sales are projected to post
some big gains in the next two years, according to Fannie Mae's latest monthly
economic outlook.
Fannie Mae economists predict
that existing-home sales will rise by 10.5 percent this year, and by 6.2 percent
in 2014. The economists made even bolder projections for new single-family home
sales -- growing 15.1 percent this year and 44.1 percent in 2014.
"We expect home prices to firm
further amid a durable housing recovery, continuing to boost household net
worth, gradually diminishing the population of underwater borrowers, and
reducing incentive for strategic defaults," according to Fannie Mae's
report.
Fannie Mae projects that mortgage
rates will stay low by historical averages this year, but the 30-year fixed-rate
mortgage will rise from an average of 3.5 percent during the first quarter to an
average of 4 percent during the final three months of 2013. During the fourth
quarter of 2014, mortgage rates are projected to tick up to a 4.5 percent
average.
Mortgage applications for
purchases are projected to increase by 16.8 percent this year and by 17.1
percent in 2014. However, a decline in applications for refinancings will likely
cause mortgage originations to be down 14.5 percent this year and by 31.4
percent in 2014, Fannie economists predict.
.
Rate on 30-year mortgage falls to
3.43% --April 11, 2013
Rate fell sharply and are close
to record-low hit last fall, but not a single expert polled by Bankrate.com this
week predicts further drops soon
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Florida Keys statistics
December 2012 through February 2013
Single Family
Homes
Closed sales + 15.2% over prior
year
Pending sales + 44% over prior
year
Inventory down 19.3% over prior
year
Condo/townhomes
Closed sales -30% but up +14.3%
for February
Pending sales +20% over prior
year
Inventory down 8.3% over prior
year
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Friday, February 22, 2013
Florida’s housing market continues upswing in Jan. 2013
Good information regarding the Florida real estate market. You can go to my web site www.robskeel.com for Florida Keys info and listings or just contact me at 305-393-6300 or rob@robskeel.com, I am here to assist you.
“This year started out strong for Florida’s housing market,” said 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “Homes sales continue to rise, mortgage rates remain near historic lows and the inventory of for-sale homes is lower than it’s been in years. Plus, the time it takes for a home to sell is dropping; the median days a home is on the market declined about 15 percent for both single-family homes and for townhome-condo properties. However, overly restrictive credit requirements remain an obstacle for many potential buyers, who find it difficult to access affordable financing options.”
Statewide closed sales of existing single-family homes totaled 13,679 in January, up 11.7 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 31 percent over the previous January. The statewide median sales price for single-family existing homes last month was $145,000, up 12.4 percent from the previous year.
Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 6,670 units sold statewide last month, up 2 percent compared to January 2012. Meanwhile, pending sales for townhouse-condos in January increased 17 percent compared to the year-ago figure. The statewide median for townhouse-condo properties was $112,000, up 18 percent over the previous year. NAR reported that the national median existing condo price in December 2012 was $184,100.
This is the 13th month in a row that statewide median sales prices for both single-family homes and for townhouse-condo units have increased year-over-year, according to Florida Realtors’ data.
“I’m particularly impressed with the rise in percentage of list price received by sellers,” said Florida Realtors Chief Economist Dr. John Tuccillo, referring to the January data. Sellers of single-family existing homes in January received an average of 92.2 percent of their original list price; sellers of townhome-condo units received an average of 93 percent.
© 2013 Florida Realtors®
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