Report: Florida a housing market to watch in 2014
By Paul Owers
Home price spikes in Las Vegas, Phoenix and other parts out west got most of the pub this year, but Florida’s housing market will jump back into the national eye in 2014, according to the Home Buying Institute.
It was one of eight housing predictions the Healdsburg, Calif.-based website made recently about the state of the industry.
In 2014, Florida’s real estate market will move into the media spotlight, edging out some of (this) year’s headline hoggers.
Housing inventory is dropping sharply in some of Florida’s major cities. In Naples, for example, the total number of property listings on Realtor.com dropped by nearly 22% over the last year or so. Inventory is also declining in Fort Lauderdale, West Palm Beach, Daytona Beach, and other cities. At the same time, housing demand is rising across the state, partly due to job gains and other economic improvements. It will be a market to watch in 2014.
The number of homes for sale in South Florida has declined sharply over the past year, but Broward County did see a slight uptick in listings in September, according to a report this week from the Greater Fort Lauderdale Realtors.
Florida had its share of price gains in 2013, but the western markets posted some of the biggest increases in the nation, according to the Standard & Poor’s/Case-Shiller home price index.
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