Real Estate Has a Pulse…
July 7, 2008 3:21 amFiled in Land Development, Real Estate
The Florida Real Estate Journal is reporting a slight up-tick in existing home sales in the three Southeast Florida MSA’s–West Palm Beach, Ft. Lauderdale and Miami. The report is from Mike Pappas, CEO of the Keyes Company (one of the largest residential realtors in the region).
The gains aren’t huge, but they are gains. Pappas attributes the bump to buyers seeing a bottom in prices. I also think the realization that the cheap money days are ending is motivating buyers to get off the sidelines.
This report is consistent with anecdotal evidence we’re seeing in new home construction in the Southeast Florida market. Let’s hope this blip turns into a trend.
