Fla. real estate changes predict national changes?
NEW YORK – Dec. 20, 2018 – "Where the Florida housing market leads, the national housing market follows," says Keith Robinson, chief strategy officer for national franchisor NextHome Inc. "At least that has been true in my experience."
Robinson cites the foreclosure crisis as an example. Florida at one time had the third highest foreclosure in the nation, he says, and then a quick recovery. Now the state is seeing more positive trends in appreciating prices as well as months of inventory "which in Florida has been between three- and four-months' supply now for the past three years.
He says most of the nation "has followed these trends; specifically, the increase of medium home values and supply of inventory."
In the third quarter of this year, Florida had 3.7 months of inventory and median prices are up 2.8 percent.
Robinson concludes that the current Florida market "can be characterized as stable. All indications suggest that we can anticipate steady growth at a modest but healthy rate. This bodes well for Florida and – and if the trend continues – the rest of the country."
Source: GlobeSt.com (12/14/18) Wilkening, David
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