As most people have heard, one of the hardest hit housing markets is Florida so to hear that things could be turning around is very good news.
It seems that lower prices might finally be luring back buyers, who had previously been waiting for the dust to settle.
In the Naples area of Florida, Realtors had their busiest month of the year. Home sales rose 6 percent to last year while pending home sales increased 25 percent. Some Naples Realtors even think they may have hit bottom. That is just the kind of positivity the housing market could use right now.
In a year the median home price fell from $390,000 to $300,000. All the homes that went into foreclosure on now on the market making it very competitive and driving down prices. Prices that had been inflated to begin with. Buyers have their pick and are pretty much guaranteed a deal which is a far different situation from a few years ago when people were camping out just to overbid on a house.
While homes under $300,000 still are seeing the most activity, listings priced $300,000 to $500,000 are experiencing an increase as well.
Although every neighborhood is different, as well as city, state and region, this is certainly a good sign.
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