This year was projected to be a great year of listings for those looking to move in South Florida. The market suffered greatly in 2012 and 2013 because of the low amount of homes that were on the market. However, there was some growth over the last two years that was thought to stimulate optimism and make the market grow significantly in 2014.
Unfortunately that hope has not come to fruition as of yet. Although the market has grown in 2014, and more homes are on the market now than this time last year, there are many real estate agents and perspective homeowners who are frustrated by the lack of quality homes.
However, the growth is still encouraging for the real estate market to see. In April, the market in Palm Beach County had grown 17% from the same time period a year earlier, and the first quarter of 2014 experience a growth of 9% in comparison to the first quarter of 2013.
Fort Lauderdale experienced a massive leap in April 2014 when compared to April 2013. The market had experienced a growth of 41%, and the housing market targeted by young homeowners (which falls in the $150,000 – $299,999 range) increased by 72%.
But in the end, these houses are not going up for sale in the most desired areas, and if they are, then they are not always the highest quality of homes. Sellers are also being told that the market is “hot” which leads them to believe that they can aim high with their asking price, which is actually driving buyers away. Both buyers and sellers are frustrated by the market, and hope to see some resolve soon.
If you have found a new home to move into in the Fort Lauderdale area, then let your local moving company help get you settled in. All My Sons can provide you with unbeatable customer service and will give you the best moving experience you can ask for.