Broward home prices rise, but housing frenzy slows
“South Florida saw more home price gains in October, but the increases are leveling out as the once frenetic housing market settles into a more normal pace…Following the six-year bust , the market turned in early 2012 as prices hit bottom and demand soared. Buyers soon struggled to find properties, creating bidding wars that led to higher values…There’s a slight back from the craziness, and that’s good. One big reason for the moderation: More sellers are listing their homes for sale, restoring balance to the market…”
This article underscores what real estate agents have been experiencing for the last year – lots of buyers but fewer and fewer homes for sale. It has not reached a balance yet but at least we are seeing more homes on the market to show to our sellers which should translate to a lot more sales.