Thursday, September 24, 2009

Housing marekt resales report released today.

Conflicting Reports on Housing Market Today. Sales Down Nationally. Up in Florida.
Location, Location, Location
is the only constant when evaluating the housing market.
Want to know what is going on in your neighborhood?

Today, housing market sales statistics were released, as they are every month by the National Association of Realtors. The media and many industry experts follow these statistics to look for signs of market recovery or other indicators.
If you are buying or selling, it's important to remember that location, supply and demand and a number of other factors drive the real estate market. What's happening in one city can be very different from another -- even in the same county. That's why it is so important when buying or selling to work with a Realtor who knows the immediate area well.
For example, the National Association of Realtors reports that nationwide, existing home sales [resales] dropped 2.7% in August from the month before and are up just 5.1% from the prior year. Median sales price, as expected, is down 12.5% from prior year. Source National Association of Realtors.
In Florida, resales continue to rise, marking 12 months in a row that sales activity have increased in a year-to-year comparison, according to the Florida Association of Realtors. Existing home sales rose 28 percent statewide over prior year.
In Miami Dade County, the number of existing home sales declined by about 18% from July to August of 2009 and increased over 30% from same month prior year.
In Aventura, the number of sales for condos and townhouses increased by just one over last year and increased about 15% from same month prior year.
The numbers are as different as the neighborhoods they represent.
So, when you read or listen to the media hype, know that it depends on where you live or where you want to buy. If you really want to know what's going on in a particular neighborhood. Ask a Realtor.
If you are interested in Miami Dade or Broward Counties, from Miami Beach, north to Aventura, Surfside, Bay Harbor, Bal Harbour, North Miami Beach, Sunny Isles, Hallandale to Hollywood, ask me.

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Want to be among the first to learn about new listings or recent sales in your desired neighborhood? E-mail Lori Fein at and include the neighborhood, type of home [condo, single family, townhouse], number of bedrooms and any other criteria you desire, i.e. pool, garage.

Wednesday, September 23, 2009

Immigration population slowing

Wow. For years we have read and experienced first hand the growing number of new residents in the area that come from other countries. Our new friends and neighbors created an unprecedented growth spurt for Florida.

Now I read that the trend is stalling. Miami-Dade County's population, which has grown steadily over the years, hasn't changed much since 2006, according to data released yesterday from the annual American Community Survey. The impact on the real estate market may be felt down the road as prices and sales are driven by supply and demand.

There have been a lot of articles on the subject over the last two days. This one from Florida Association of Realtors is easy to read and important to note: